The crony and socialist current president of Brazil is under massive pressure to resign. Millions of people turned out into the streets to demand her impeachment last weekend. She doesn’t want to go. In fact she may* appoint the former president Lula DeSilva – her mentor – to her staff in an effort to protect him (and herself) in the wake of his recent detainment by the police.
The Brazilian central bank president has about had enough.
Now who’s looking forward to the Summer Olympics in Rio!?
BCB President Alexandre Tombini is reportedly “giving signs” that he may resign. “The possible nomination of Lula points to deep economic policy changes, with repercussions in monetary policy and FX policy,” Valor reported on Wednesday, explaining Tombini’s reservations about Lula’s new post. The BCB chief worries Lula may tap FX reserves and put pressure on Tombini to cut rates, Valor continues, without citing sources.
Apparently, Lula has already moved to replace him. According to Veja,”Lula has invited Henrique Meirelles to assume the central bank chief post.