Haddad says choosing the new BC president will be smooth

Haddad says choosing the new BC president will be smooth
Haddad says choosing the new BC president will be smooth

SÃO PAULO – The Minister of Finance, Fernando Haddad (PT), stated this Tuesday that the process of choosing the future president of the Central Bank will be peaceful and the result of dialogue, highlighting that he has discussed the topic with the current president of the municipality , Roberto Campos Neto.
At an event promoted by Bradesco BBI, the minister said that the government went through a tough test regarding the autonomy of the BC — as the elected president cannot immediately appoint the authority’s leadership immediately after taking office — and highlighted that after the current government By appointing four directors, it is natural that the relationship will become calmer.
“I have a great relationship with the president of the Central Bank, this is independent of our ideas. We seek to institutionalize the relationship between the Treasury and the Central Bank. This was well done… I am already talking to Roberto Campos very calmly about this issue (of succession to the BC Presidency)”, he stated.
“The president (Luiz Inácio Lula da Silva) has three names to choose now: two directors and the president. I think it will be a very natural process. He will listen to the people, he will listen to the Treasury, we will listen to the Central Bank about how to make this transition, and I want to believe that this transition will be much smoother”.
The minister even mentioned that he questioned Campos Neto about the moment he would consider most appropriate for President Lula to present the nomination of his successor, but he did not elaborate.
Campos Neto’s term as president of the BC ends on December 31st of this year, the same date scheduled for the end of the work of the director of Relationships, Citizenship and Conduct Supervision, Carolina Assis de Barros, and the director of Regulation, Otávio Damaso .
At the event, Haddad stated that the government will propose next week the launch of a secondary market for real estate market securities, which would open space for banks to “clean up” their balance sheets and expand the granting of credit.
Haddad cited Caixa Econômica Federal as an example, which could transfer securities from its real estate loan portfolio to third parties, who would negotiate the securities on the market. According to him, these agents will have to give in a little for the initiative to prosper.
“If we manage to induce this process and simultaneously have a more positive macroeconomic environment, with more civilized interest rates and controlled inflation, we understand that we can leverage real estate credit in Brazil, which is very low,” he said.
The minister stated that today there is a mismatch between correction indices used in long-term operations and, without elaborating, said that the government will propose an equalization to make the proposal viable.
According to him, the topic has already been discussed with the Central Bank, Caixa, Banco do Brasil and representatives of the construction sector.

The article is in Portuguese

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