Nelson Motta and Ana Paula Marra
Reporters - Agência Brasil

Brasília - The president of the Brazilian Development Bank (Banco Nacional do Desenvolvimento Econômico e Social) (BNDES), Guido Mantega, will substitute minister Antonio Palocci as the head of the Ministry of Finance. Palocci submitted a letter of resignation yesterday afternoon (March 27).

According to the leader of the government in the Senate, senator Aloizio Mercadante (PT-SP), president Luiz Inacio Lula da Silva accepted the resignation of Palocci and immediately appointed Mantega to substitute him.

Translation: Allen Bennett