Gilles Roth, Luxembourg's Minister of Finance;
Credit: MFIN
Luxembourg's Minister of Finance, Gilles Roth, carried out a financial mission to Brazil from Sunday 27 April to Thursday 1 May 2025, following the Spring Meetings of the International Monetary Fund (IMF) and the World Bank in Washington, DC.
The visit was organised in cooperation with Luxembourg for Finance (LFF), according to Luxembourg’s Ministry of Finance.
In São Paulo and Brasília, the minister met with key stakeholders in the Brazilian financial sector to further strengthen cooperation with Luxembourg. He also held discussions with representatives from Brazil’s fintech sector, as the country has implemented “one of the world’s most efficient and inclusive instant payment systems.” The mission concluded with a “Luxembourg meets São Paulo” evening organised by Luxembourg for Finance, which brought together around 90 decision-makers from the Brazilian financial sector. According to the ministry, feedback from the meetings was “very positive”, with the Grand Duchy remaining the preferred gateway for the development of Brazilian operations in Europe and beyond.
Minister Roth commented: “Our financial mission was a success. Brazil and Latin America represent an important market for the future. It is crucial for me that we maintain and further develop our relations, particularly with Brazil, which is the economic engine of the region and home to the most developed financial sector in Latin America. Luxembourg serves as a gateway to Europe: six of the ten largest Brazilian banks are currently established in Luxembourg. Brazil is a key partner for us. Our discussions were productive and cordial, focused and pragmatic. Our main arguments were our stability, flexibility and social cohesion.”
The mission concluded in Brasília, the capital of Brazil, with a meeting between Minister Roth and Brazilian Finance Minister Fernando Haddad.
Following this meeting, Minister Roth summarised: “We share the same observation. Geopolitical tensions are not conducive to global economic growth. The time is for cooperation rather than confrontation. Together, Brazil and Luxembourg have a promising future.” He added: “Brazil is an impressive country and a growing economy on a continent with enormous potential. Europe’s appeal as a destination for Brazilian investment was confirmed during this mission and through the many meetings I held. We want to deepen our relations and strengthen ties with Latin America - in the interest of our citizens.”
The ministry noted that Brazil is the tenth-largest economy in the world and the largest in Latin America. Luxembourg currently hosts six Brazilian banks. The first Brazilian bank established a presence in the Grand Duchy in 1982.
