Legislative project allowing dismissal of Central Bank directors worries, says Haddad

The project was introduced in 2021, but this week a request was filed for an expedited process for the text. BRASÍLIA (Reuters) – Finance Minister Fernando Haddad expressed concerns on Wednesday about a bill that would give the Legislative the power to dismiss Central Bank directors, arguing that there is no reason for such a measure. The bill, currently under review in the Chamber of Deputies, establishes that the institution’s directors can be removed by the National Congress “when the conduct of the Central Bank’s activities is incompatible with national interests.” The project was introduced in 2021, but this week a request was filed for an expedited process for the text. In the interview, Haddad said he didn’t want to speculate that the lawmakers’ initiative might be related to the negotiations for the sale of Master Bank assets to BRB, which are currently being evaluated by the Central Bank.