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An economic expert has recently declined an enticing offer to lead the Central Bank of Brazil, causing quite a stir in the financial world. Demian Reidel, a well-known economist who has often identified himself as a dedicated supporter of the controversial President Javier Milei, shocked many by stating that there are others who could do a better job at leading the bank.
Reidel’s decision came as a surprise to many, as he has been a long-time enthusiast of Milei’s economic ideology. In an exclusive interview with La Nación, Reidel explained, “There is a difference in the formulation of policies, and there are individuals who possess the skills and expertise to handle such a crucial role in a more effective manner.”
This rejection does not mean that Reidel no longer supports Milei’s administration. Quite the contrary, in fact, as he emphasized his unwavering support by proudly stating, “I am a ‘milesta of first hora,’ and I am fully backing the Milei administration. My relationship with them remains strong.” Reidel’s connection with Milei can be traced back to his tenure as the vice president of the Central Bank under Mauricio Macri’s presidency.
President Milei, a controversial figure himself, has frequently voiced his intention to close down the Central Bank due to what he perceives as a “moral obligation.” He believes that such a move would act in the best interest of the Argentine economy, as he is a staunch advocate for the dollarization of the country’s financial system.
In a further development, the Milei administration has made it official that they have approached Luis Andrés Caputo to head the Ministry of Economy. This announcement has garnered significant attention within Argentina, and the local press has unanimously agreed that Caputo, a former Finance Minister and Central Bank President, is the ideal candidate for the position.
The decision to approach Caputo demonstrates President Milei’s determination to gather a strong team of professionals to implement his economic vision. Caputo’s previous experience in key financial roles has earned him widespread recognition, and his appointment would likely bring a sense of stability and confidence to the Argentine economy.
The rejection by Reidel to lead Brazil’s Central Bank might be seen as a setback for President Milei, who is known for his firm stance on economic policies. However, it also showcases the economist’s commitment to selecting competent individuals who can lead the bank effectively, even if it means disregarding personal affiliations. This decision has sparked debates and discussions among economists and policymakers, as they ponder the implications and potential outcomes of Milei’s approach.
In conclusion, Demian Reidel’s refusal to accept the offer to lead the Central Bank of Brazil has shocked many, considering his close association with President Milei. While this rejection may have caught followers of Milei’s economic ideology off guard, it confirms the economist’s commitment to appointing the most capable individuals to crucial positions. Moreover, President Milei’s decision to approach Luis Andrés Caputo for the Ministry of Economy has been met with unanimous approval from the local press, indicating a potential strengthening of the Argentine economy under Milei’s rule. Only time will tell how these developments will unfold and impact the region’s financial landscape.
