- The Banker highlighted Brazilian Central Bank’s liquidity program, which injected 17.5% of GDP;
- Open banking initiative was also a factor to recognize Campos Neto.
Brazilian Roberto Campos Neto was elected as the Central Bank president of the year by The Banker magazine, part of the Financial Times newspaper group.
The Banker‘s Central Banker of the Year 2021 awards celebrate the officials that have best managed to stimulate growth and stabilize their economy.
According to The Banker, while earlier in 2020 expectations were for Brazil’s economy to contract by more than 9%, figures were sharply revised towards the end of the year to about half that — the International Monetary Fund’s forecast moved from 9.1% to 5.8%, while some analysts believe the contraction will be a lower 4.5%. “Much of this more hopeful scenario is due to the work of the Central Bank of Brazil,” it said.
Because of that, The Banker has recognized Campos Neto as the Global Central Banker of the Year 2021, highlighting the Brazilian Central Bank’s liquidity program, which injected 17.5% of GDP, and Brazil’s open banking initiative, to be launched in 2021.