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Brazilian Finance Minister Pedro Malan grins after making a speech to the annual gathering of...

IMAGE number
REU7647919
Image title
Brazilian Finance Minister Pedro Malan grins after making a speech to the annual gathering of the In.., 1998-09-21 (photo)
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Photographer
Gregg Newton
Medium
photograph
Date
1998 AD
Shooting Date
1998-09-21
Image description

Brazilian Finance Minister Pedro Malan grins after making a speech to the annual gathering of the International Association of Financial Executives Institute, in Rio de Janeiro September 21. Malan announced that "Brazil will not impose controls on capital flight...It will not perform a one-time currency devaluation (maxi-devaluation) of the Real." Malan also noted that for the sixth consecutive year, Brazil would show positive growth of the economy, although less than expected due to the world financial crisis. Malan spoke to the group about global competition and changes in technology and the role of emerging markets.

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REUTERS/Gregg Newton / Bridgeman Images
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