Political Risk Latin America Blog @PolRiskLatam

Tombini tipped for Brazil’s central bank

Posted in News and Articles, Political Risk by politicalrisklatam on November 24, 2010

by Barney Jopson for Financial Times – Beyond Brics, November 24th, 2010.

Financial markets have grown nervous lately waiting for Brazil’s president-elect, Dilma Rousseff, to assemble her economic team. But now one man is emerging as the country’s likely new central bank governor: Alexandre Tombini.

The central bank itself has still not said anything, but there’s a consensus among the Brazilian press and international news agencies that Tombini, 46, has been nominated by Rousseff to succeed Henrique Meirelles. Investors will look to him to rein in rising inflation as concern persists about the effects of high public spending.

Tombini, who has a doctorate in economics from the University of Illinois, is a long-serving technocrat at the Central Bank of Brazil. He joined as an advisor in 1998, according to his biography on the bank’s website, and since 2006 has been deputy governor for financial system regulation and organisation.

If he is appointed, it will disprove the consensus view of last week, which was that Meirelles would stay put, at least for the time being, on the basis that you don’t change a winning team. (continue reading… )

 

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