The former president of the Central Bank in the first governments of (PT), said that the distrust of sectors of the financial market in relation to the president does not have political bias, but stems from negative expectations about the Brazilian economy.
In an interview with MetropolisMeirelles pointed out that the main concern of economic agents is the fiscal expansion promoted by the government. According to him, and doubts about intensify pessimism.
“The market are thousands of people, not just half a dozen large funds from Faria Lima. The baker of the interior of Bahia is the market, ”he said. “He is not a political party and has no uniform position. Decisions are made based on what agents believe it will happen in the economy, regardless of political judgments. ”
Meirelles praised the efforts of the Finance Minister, but criticized the “resistance” he faces within the government. According to the former minister, the attempt is not sustainable.
“Brazil already has one of the highest tax charges in the world. The path will necessarily have to be a limitation of expenses, ”he said.
The former BC president also defended Gabriel Galipolo’s performance in charge of the monetary authority. For him, the bank has acted correctly in the fight against inflation, despite PT criticism of the Selic rate, currently at 13.25% per year.
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“The Central Bank always works under pressure. The institution’s president has to be prepared for it, ”said Meirelles.
