Haddad Negotiates IOF Adjustments, Prioritizes Structural Reforms

Brazil's Finance Minister Fernando Haddad announced he is in direct talks with leaders of the Brazilian Congress to discuss adjustments to the IOF (Imposto sobre Operações Financeiras) decree and other issues causing distortions in the country's financial system. Haddad stated that any changes will be part of a comprehensive package of structural reforms, emphasizing a long-term approach rather than short-term solutions. "We aim to correct existing imbalances in the tax system," Haddad said in an interview with TIMES BRASIL. The government's focus on structural reform suggests a commitment to addressing fundamental economic issues rather than relying on temporary budgetary measures. This approach could have significant implications for Brazil's economic stability and long-term growth. The interview offers insights into the ongoing negotiations and the government's broader economic strategy.