Joaquim Pais Jorge resigns as Finance Minister


Joaquim Pais Jorge, the Minister of Finance, resigned yesterday after having been in the job just a couple of weeks. The minister has resigned because he is reported to have been involved in offering swap contracts to the previous government whilst he was working at Citigroup.

Reuters reports the minister as saying “I took this difficult decision because I would never allow controversies surrounding my professional life, which I have never hidden, to be used as a political weapon against the government,” and “I am leaving the government because we have very serious problems associated with the economic and financial emergency we are in and which have to be resolved.”

The resignation comes just a few weeks after it looked as though the government might collapse in a political crisis after the former Finance Minister Vitor Gaspar resigned.

More detailed briefing on the politics and risk of doing business in this country is available to clients and subscribers. If you would like to know more then please contact enquiries@tradebridgeconsultants.com