BRASILIA, Brazil, Aug. 1 (UPI) -- U.S. Treasury Secretary John Snow said Monday that Brazil's economy is not being hurt due to an ongoing corruption scandal.
Snow made his remarks while visiting with Brazilian economic officials in the capital.
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"The market is crediting the government, the leadership, with a commitment to good policy," said Snow.
In June a former ally of the ruling Workers' Party came forward with allegations that it was paying off certain lawmaker to support key initiatives in the Congress.
Brazil's main market index, the Bovespa, has actually gained ground since the scandal first broke and the country's currency, the real, remains one of the best performers against the dollar in 2005.
