Mário Henrique Simonsen Explained

Mário Henrique Simonsen
Office:Minister of Finance
Term Start:15 March 1974
Term End:15 March 1979
President:Ernesto Geisel
Predecessor:José Flávio Pécora
Successor:Karlos Rischbieter
Office1:Minister of Planning
Term Start1:15 March 1979
Term End1:10 August 1979
President1:João Figueiredo
Predecessor1:Reis Veloso
Successor1:Golbery do Couto e Silva
Birth Date:19 February 1935
Birth Place:Rio de Janeiro, Federal District, Brazil
Death Place:Rio de Janeiro, Brazil
Profession:Engineer, banker, economist

Mário Henrique Simonsen (19 February 1935 – 9 February 1997) was a Brazilian economist, who served as Brazil's finance minister from 1974 to 1979.[1]

Simonsen was appointed Brazil's finance minister by President Ernesto Geisel with instructions to reduce the country's runaway inflation rate.

Despite Simonsen's efforts, the official inflation rate had risen to 40% per annum in 1979 and he was shifted to Planning Minister.

He was succeeded by Antonio Delfim Netto, with whom he had an uneasy relationship due to the latter's inclination to increase borrowing, and hence inflation.

Simonsen resigned from Cabinet in 1980 and became a director of Citicorp, a position he held until 1995 when he was forced by ill-health to retire. He was a chronic heavy smoker and suffered from emphysema.

Other interests

Simonsen was an excellent baritone and an opera aficionado.

Family

He was married to Iluska Pereira da Cunha Simonsen. Thy had two sons and a daughter.

See also

References

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Notes and References

  1. News: Mario Simonsen, 61, Ex-Brazilian Finance Chief . David Cay Johnston . David Cay Johnston . . 13 February 1997. 24 May 2020.