Brazil’s Central Bank advocates fiscal austerity notwithstanding pandemic

Brazil's Central Bank president Roberto Campos Neto on Monday advocated fiscal austerity, especially in emerging economies, such as Brazil, even if the novel coronavirus pandemic should persist.

RIO DE JANEIRO, BRAZIL - "We have reached a moment, today, of confronting the pandemic, in which it is necessary to send a message of austerity and fiscal seriousness", said Campos Neto, at the I Ibero-American Conference of Central Banks, organized by the Bank of Spain and the Ibero-American General Secretariat (Segib).

The economist emphasized that Brazil's space for fiscal spending is "very small" at present, making it "very difficult" to have the same capacity to formulate policies to sustain the crisis generated by Covid-19 as developed countries.

The Brazilian government made an enormous outlay last year . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?