Brazil’s interim gov’t announces central bank president nom

Global Business

Brazil’s interim gov’t announces central bank president nom

Brazil’s interim government has announced its nominee for the country’s new Central Bank President.

It’s hoped the internationally respected economist can win back investor trust in Brazil and reverse its worst recession in decades.

CCTV America’s Paulo Cabral reports.

Brazil’s interim gov’t announces central bank president nom

Brazil’s interim gov’t announces central bank president nom

It's hoped the internationally respected economist can win back investor trust in Brazil and reverse its worst recession in decades.

As Brazil’s new government settles in, announcement by Finance Minister Henrique Meirelles came Tuesday of the most anticipated positions on his team. He had chosen Ilan Goldfajn to head Brazil’s central bank.

Goldfajn served as an economic policy director for the institution in the early 2000’s and is currently the chief-economist of Brazil’s biggest private bank Ita Unibanco.

Brazil’s currency and Sao Paulo’s stock exchange went up after the announcement. According to analysts, it’s a sign of trust from the financial markets.