Brazil Is Already in Economic Depression, Says ex-President of Brazil’s Central Bank

The combination of the economic, political and health crises creates a paralyzing picture, according to the economist.

RIO DE JANEIRO, BRAZIL - A former president of the Central Bank and a founding partner of Gávea Investments, Armínio Fraga, sees with concern the public accounts situation in Brazil.

According to him, the country is currently experiencing an economic depression. "In terms of the extent and depth of the recession, yes. I would say this is a depression, although it is not comparable to the Great Depression of the 1930s," Fraga said in an interview.

The combination of the economic, political and health crises creates a paralyzing picture, according to Fraga. He says that with the advent of . . .

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