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 SAO PAULO, Brazil (AP) - Finance Minister Antonio Palocci, the architect of Brazil's economic recovery and market-friendly fiscal policy, resigned Monday after becoming caught up in a political scandal.
Palocci sent a resignation letter Monday evening to President Luiz Inacio Lula da Silva and Silva accepted the resignation, said presidential spokesman Carlos Villanova.
Silva tapped former Planning and Budget Minister Guido Mantega to replace Palocci as head of the Finance Ministry. Mantega now heads Brazil's National Development Bank, and was a top Silva adviser along with Palocci during the 2002 campaign that made Silva Brazil's first elected leftist president.
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