BRAZIL: Brazil's Palocci offers to resign
published: Tuesday | March 28, 2006

PALOCCI

SAO PAULO (AP):

The architect of Brazil's economic recovery and market-friendly fiscal policy offered his resignation yesterday after becoming caught up in a political scandal, Brazil's Finance Ministry said.

Finance Minister Antonio Palocci was sending a resignation letter yesterday evening to President Luiz Inacio Lula da Silva outlining his reasons, the ministry said in a statement.

Palocci faces accusations he frequented a house in Brasilia where lobbyists held parties with prostitutes and money arrived by the suitcase, possibly for political pay-offs.