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Itau Economist Goldfajn Named Brazil’s Central Bank Chief

  • Goldfajn’s nomination must still be approved by Senate
  • Meirelles didn’t provide details on the board of directors
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World Bank's Levy: Brazil's Currency Holding Up Well

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Brazil’s finance minister nominated Itau Unibanco Holding SA’s chief economist Ilan Goldfajn to head Brazil’s central bank and proposed a constitutional amendment to grant the top monetary authority operational autonomy.

Finance Minister Henrique Meirelles also said that Goldfajn, who must still be confirmed by the Senate, would not form part of Acting President Michel Temer’s cabinet and that the constitutional amendment would grant all central bank directors special legal status, meaning they can only be sued before the Supreme Court.