New cabinet announced

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Dilma Rousseff, Brazil's president–elect, has named the senior members of her economics team. Guido Mantega will stay on as finance minister, while Alexandre Tombini becomes president of the Central Bank and Miriam Belchior takes over as planning minister.

A press release from Ms Rousseff's office said the team will ensure 'the continuation of the successful policies of the Lula government–based on the regime of inflation targeting, a floating exchange rate and fiscal responsibility–and promote the advances that will lead Brazil to defeat poverty and reach the level of a fully developed country'. The new team was introduced at a press conference on 24 November, when Mantega predicted 2011 would be a year for 'containment of spending', while Belchior said she would seek 'improvement in the quality of public spending and administration', declaring 'it is possible to do more with less'. Tombini, 46, is currently director of norms and regulation at the Central Bank, and was previously a senior advisor in Brazil's representation at the International Monetary Fund in Washington. His predecessor Henrique Meirelles had been Central bank president since 2003 and visited London on numerous occasions, including in April this year to receive the 'Personality of Year' award from the Brazilian Chamber of Commerce.

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