IMF calls on Brazilian legislators to pass central bank independence law

Staff welcomes new law blocking central bank transfers to the Treasury from reserves revaluations

Photo: Henrik Gschwindt de Gyor/IMF

The International Monetary Fund is calling on Brazilian authorities to pass a draft law intended to reinforce the independence of the Central Bank of Brazil.

In the latest Article IV consultation, published on July 23, the fund’s staff praises a recent bill limiting transfers derived from reserve revaluations from the central bank to the Treasury.

“The new law regulating financial transactions between the central bank and the Treasury will strengthen the monetary framework and its transparency

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