'A Populist Turn Would Run Everything Into the Bog,' Says Armínio Fraga, Former President of the Central Bank

08/08/2017 - 10h17

Advertising

ANA ESTELA DE SOUSA PINTO

SPECIAL ENVOY TO RIO DE JANEIRO RICARDO BALTHAZAR

EDITOR OF THE BUSINESS SECTION

The Brazilian economy will only return to steady and strong growth when there is clarity regarding the political forces that will lead the next government, declared Armínio Fraga, a former President of the Brazilian Central Bank.

"If the change imprinted in economic policy is maintained, it will consolidate a very good thing", he said. "But the opposite could also happen, a populist turn, and everything goes into the bog."

Fraga doesn't express enthusiasm for Temer's government. "Temer was the PT's [Workers Party] preferred partner in the theft and destruction of the economy, but he stopped doing that. It was a surprise. Afterwards, it became clear that his ties to the old Brazil were very strong", he said.

He also voices disenchantment with the PSDB Party and Senator Aécio Neves. "In the 2014 Presidential campaign, I was enthusiastic about the possibility of working with Aécio. I think he would have been a good president, but this more extremist side I didn't perceive. It's really sad", he declared.

Finally, in his opinion, the participation of former president Luiz Inácio Lula da Silva (PT Party) in the 2018 campaign eliminates any chance of a realistic debate regarding the country's direction.

"If Lula is a candidate, things will return to the same old set of lies and promises as before. The other day he said that Brazil has never needed the PT more before than today. What for? To go broke again?"

Translated by LLOYD HARDER

Read the article in the original language