Brazil’s interim president vows to rescue plunging economy

A day after divisive votes were cast to impeach President Dilma Rousseff, Brazil’s interim president, Michel Temer has vowed to rescue the country’s plunging economy.

The interim president made the declaration while addressing his first official cabinet meeting saying his new team will try and rescue the country’s declining economy especially at this moment of profound political confrontation.

His declaration is coming after the Senate suspension of Rousseff from office and abruptly ousting nearly her entire government – a move she branded “a coup”.

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Following Rosseff’s suspension, Temer moved quickly to announce his new team, including Finance Minister Henrique Meirelles, who is respected by some for serving as Central Bank chief during the boom years from 2003 to 2010.

“Our biggest challenge is to staunch the process of free-fall of our economy,” Temer said at a swearing-in ceremony on Thursday for his 22 cabinet ministers.

“First of all, we need to balance our public spending. The sooner we are able to balance our books, the sooner we’ll be able to restart growth.” Temer said.

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