Brazil’s Rousseff says comments by Levy were misunderstood

(Reuters) – Brazilian President Dilma Rousseff said yesterday that comments recently made by Finance Minister Joaquim Levy about the effectiveness of her policies were “misunderstood.”

In a closed-door event last Tuesday, Levy told former students of the University of Chicago that Rousseff does not always act in “the most effective way.” His remarks were made public on Saturday, creating a political stir that could make it tougher for the government to approve austerity measures.

“There is no need to create a fuss about this. He has explained himself exhaustively,” Rousseff told reporters after a speech in Capanema, in the northern state of Para. “I’m sure he was misunderstood.”