![Brazil's Economy Minister Joaquim Levy holds a booklet titled in Portuguese "Evaluation of Public Spending Quality" during a breakfast with journalists at the Economy Ministry in Brasilia, Brazil, Friday, Dec. 18, 2015. Brazil's Economy Minister Joaquim Levy holds a booklet titled in Portuguese "Evaluation of Public Spending Quality" during a breakfast with journalists at the Economy Ministry in Brasilia, Brazil, Friday, Dec. 18, 2015.](https://c8.alamy.com/comp/2N0NDD8/brazils-economy-minister-joaquim-levy-holds-a-booklet-titled-in-portuguese-evaluation-of-public-spending-quality-during-a-breakfast-with-journalists-at-the-economy-ministry-in-brasilia-brazil-friday-dec-18-2015-fitch-ratings-cut-brazils-credit-to-junk-status-wednesday-the-second-of-the-big-three-agencies-to-rip-away-the-nations-hard-won-investment-grade-status-and-igniting-fears-that-the-recession-enveloping-latin-americas-biggest-economy-will-last-longer-than-expected-ap-photoeraldo-peres-2N0NDD8.jpg)
Brazil's Economy Minister Joaquim Levy holds a booklet titled in Portuguese "Evaluation of Public Spending Quality" during a breakfast with journalists at the Economy Ministry in Brasilia, Brazil, Friday, Dec. 18, 2015.
![Joaquim LEVY | Steyer Taylor Fellow | Stanford University, CA | SU | Steyer-Taylor Center for Energy Policy and Finance | Research profile Joaquim LEVY | Steyer Taylor Fellow | Stanford University, CA | SU | Steyer-Taylor Center for Energy Policy and Finance | Research profile](https://i1.rgstatic.net/ii/profile.image/836166496579584-1576369036900_Q512/Joaquim-Levy.jpg)
Joaquim LEVY | Steyer Taylor Fellow | Stanford University, CA | SU | Steyer-Taylor Center for Energy Policy and Finance | Research profile
![Brazil's Finance Minister Joaquim Levy is seen after a meeting with Brazil's Minister for Development, Industry and Trade Armando Monteiro in Brasilia, July 29, 2015. REUTERS/Ueslei Marcelino Stock Photo - Alamy Brazil's Finance Minister Joaquim Levy is seen after a meeting with Brazil's Minister for Development, Industry and Trade Armando Monteiro in Brasilia, July 29, 2015. REUTERS/Ueslei Marcelino Stock Photo - Alamy](https://l450v.alamy.com/450v/2cpx7tk/brazils-finance-minister-joaquim-levy-l-and-president-of-brazils-chamber-of-deputies-eduardo-cunha-attend-a-public-hearing-at-the-chamber-in-brasilia-brazil-october-14-2015-reutersadriano-machado-2cpx7tk.jpg)
Brazil's Finance Minister Joaquim Levy is seen after a meeting with Brazil's Minister for Development, Industry and Trade Armando Monteiro in Brasilia, July 29, 2015. REUTERS/Ueslei Marcelino Stock Photo - Alamy
![Brazil's Finance Minister Joaquim Levy and Brazil's President Dilma Rousseff participate in the signing ceremony for the concession contract of the BR-101 Rio-Niteroi Bridge at the Planalto Palace in Brasilia May 18, Brazil's Finance Minister Joaquim Levy and Brazil's President Dilma Rousseff participate in the signing ceremony for the concession contract of the BR-101 Rio-Niteroi Bridge at the Planalto Palace in Brasilia May 18,](https://c8.alamy.com/comp/2D0KP78/brazils-finance-minister-joaquim-levy-and-brazils-president-dilma-rousseff-participate-in-the-signing-ceremony-for-the-concession-contract-of-the-br-101-rio-niteroi-bridge-at-the-planalto-palace-in-brasilia-may-18-2015-reutersueslei-marcelino-2D0KP78.jpg)