A Conversation with Roberto Campos Neto

Speakers:

• Roberto Campos Neto, Governor, Central Bank of Brazil
• Susan Segal, President and CEO, Americas Society/Council of the Americas (moderator)

“We’ve had a lot of increases in the forecast for growth in 2021,” said Roberto Campos Neto, governor of the Central Bank of Brazil, in a conversation that is part of AS/COA’s 2021 Investors Virtual Mission to Brasilia. With a 5.28 percent predicted GDP growth, Brazil’s economy is experiencing a recovery to its pre-pandemic level.

Campos Neto looked at several factors impacting Brazil’s economic recovery, including the strength of country’s labor market, resumed international consumption levels, and the global demand for raw materials. Still, Campos Neto said inflation is a worrying trend, and it has been higher than expected due to supply and price shocks, as well as growth in the service industry. "If there's one thing that impacts sustainable growth in the medium- and long-term, it's inflation," he noted. Still, Campos Neto was confident that the Central Bank can help Brazil overcome these challenges. “With the instruments we have at hand, we can do the job," he said.

Campos Neto also highlighted the Central Bank's efforts to modernize the country’s economy through initiatives around digital payment, open finance, and sustainability. He also discussed how the country is planning around the rise of digital currency and cryptocurrency.

Download Campos Neto's presentation here.