“Independence from the Central Bank is not silly”, says former finance minister

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in interview to CNN this Saturday (21), former finance minister Maílson da Nóbrega defended the autonomy of the Central Bank (BC), after President Lula declared that the independence of the autarchy was “nonsense”.

“It is Lula’s mistake. The independence of the Central Bank is no nonsense. Rich countries all have independent central banks, some for a long time like the Federal Reserve [banco central americano]which has been independent since its founding in 1913, more than a century ago”, pointed out the economist.

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Maílson pointed out that the formal independence of the Central Bank is favorable to the country’s development, as it reduces uncertainty, volatility and interest rates, without political interference.

The economist also refuted the president’s statement that the BC had more autonomy in his previous administrations.

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“Meirelles could be fired [na época], Roberto Campos, no, except for serious misconduct and under decision of the Senate. Lula even considered the possibility of dismissing Meirelles”, he declared.

Watch the full interview in the video above.

Source: CNN Brasil

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