When he became finance minister 10 months ago, Joaquim Levy was an uncomfortable fit in Brazil’s left-leaning government – an orthodox, University of Chicago-trained economist, a fiscal hawk with an affinity for cutting spending.
Dogged by speculation over his departure amid vocal opposition from the ruling Workers’ Party, Levy and his boss President Dilma Rousseff have told officials and lawmakers he is staying to see an unpopular fiscal austerity plan get through Congress, according to sources in the government and party.
After that, he may be gone, either because he is pushed out or leaves on his own volition, they say. But the mission he was hired for by Rousseff – to help restore Brazil’s credibility with investors and fix past mistakes – will be at least partially fulfilled.
“It will be too costly for Levy to leave now,” said a senior Workers’ Party lawmaker who has spoken with Levy and Rousseff about the minister’s situation. “He will try to pass most of the package and very likely leave after that next year. He is very frustrated and under a lot of pressure.”
Levy, who was compelled to publicly state last week that he was not quitting, declined to comment for this article.
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Brazil Energy Insight 
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