Exclusive: Brazil’s Neves To Allow Currency To Float Freely If Elected
If Aecio Neves wins the presidency this October, he would allow Brazil’s currency to float freely, leaving the market to set the exchange rate in a move that would likely help local industries struggling with a strong real. Mansueto Almeida, a top economic adviser to the Neves campaign, told Reuters on Thursday that a free floating real will help restore balance to Brazil’s external accounts and make Brazilian manufacturers more competitive. Almeida is a member of the team of advisers led by former central bank governor Arminio Fraga that are coordinating the economic policy platform for Neves, who is Dilma Rousseff’s main challenger in the Oct. 5 presidential election.
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