Brazilian Justice Minister Loses Important Portfolio to Ministry of Economy

By Contributing Reporter

RIO DE JANEIRO, BRAZIL – The joint commission tasked with analyzing President Jair Bolsonaro’s administrative reform just approved the bill that removes the Council for Financial Activities Control (COAF) from the responsibility of “Operation Car Wash” hero Justice Minister, Sergio Moro, and returns it to the Ministry of Economy, headed by Paulo Guedes.

There were fourteen votes in favor, eleven votes against and one abstention; the issue will now be analyzed by the Chamber and the Senate.

It is a defeat for minister Sergio Moro, who has spent the previous days meeting with members of Congress to keep control over the COAF. Various members of Congress referenced Moro in their speeches, highlighting the minister’s efforts.

“Minister Sergio Moro should be in charge of the government’s political outreach because he managed to flip some ten votes here in this commission. But he couldn’t convince me,” said Elmar Nascimento (DEM-BA).

“We had a good conversation, but I explained to him that this would be a partisan decision,” added João Capiberibe (PSB-AP).

The Council for Financial Activities Control (Conselho de Controle de Atividades Financeiras – COAF) was created in 1998 under the jurisdiction of the Ministry of Finance, for the purpose of regulating, applying administrative sanctions, receiving pertinent information, examining and identifying suspicious occurrences of illicit activities related to money laundering.