Paulo Guedes suffers third casualty in July with resignation of Caio Megale

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BRASILIA – A team of Economy Minister Paulo Guedes, will have its third low only this July. The program director of the Ministry’s Special Finance Secretariat, Caio Megale, has already announced that he will step down next Friday, 31, and should return to the private sector.

According to sources heard by the Estadão / Broadcast, Megale had been planning to leave the ministry for some time, for personal reasons. A person close to the director cites the family’s distance as the main reason for him to return to São Paulo. There is still no definition of a replacement for his role.

The same sources deny that the director’s departure is related to any pressure for increased spending after the covid-19 pandemic. They point out that the spending cap prevents the advance – in Congress or within the government itself – of any intention to increase spending above the limit allowed by the constitutional rule.

In addition to Megale, the former secretary of the National Treasury, Mansueto Almeida, left Guedes’ team on the 15th of this month, being replaced by Bruno Funchal. Last Friday, the 24th, it was the turn of the president of Banco do Brasil, Rubem Novaes, resign.

Former finance secretary in the capital of São Paulo at the beginning of Bruno Covas (PSDB), Megale held three different roles in the 19 months he was part of Guedes’ team.

First, he took over the Secretariat for Industry Development, Commerce, Services and Innovation, with the objective of bridging the gap between the ministry and the private sector. The position was under the special secretary for Productivity, Employment and Competitiveness (Sepec), Carlos da Costa.

Dissatisfied with the depletion of that secretariat, in July last year he was “promoted” to a special advisor to the minister himself, starting to dispatch directly with Guedes.

In January of this year, however, he lost his position to Esteves Colnago and was relocated as program director at the Special Secretariat of Finance, led by Waldery Rodrigues.

Last week, Megale was asked by Waldery to argue that the federal bailout for states was more than enough to make up for the revenue lost by state governments during the covid-19 pandemic.

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