Haddad: No Compromise on Brazil's Financial Goals Despite Congress Pressure

Brazil's Finance Minister Fernando Haddad addressed the ongoing debate surrounding the IOF tax and its impact on the nation's economy. The controversy centers on proposed changes to financial operation rules, which have faced strong opposition from Congress. Haddad, in an interview, firmly stated, "I won't compromise the targets set by the Finance Ministry." He emphasized his preference for structural reforms, revealing discussions with legislative leaders to find common ground. While acknowledging the pressure to immediately suspend the new rules, Haddad remains committed to the ministry's financial goals. This highlights the ongoing tension between the executive and legislative branches in Brazil, as they navigate crucial economic decisions. The resolution of this impasse will significantly impact the country's economic trajectory.