Central Bank of Brazil president speaks out
The world needs coordinated actions in order to address liquidity management, according to the president of the Central Bank of Brazil (CB).
Henrique Meirelles has said that central banks from across the globe need to unify and implement new liquidity management policies, reports brazzilmag.com.
People considering buying property in Brazil may be interested to know that the governors of the CB are predicting a global growth slowdown in 2009 and a reduction in the Gross Domestic Product of developed countries.
Mr Meirelles reassured that Brazil has already adopted measures to expand its domestic markets so will not suffer heavy losses.
He told the site: "A gradual resumption of credit is taking place due to the measures that were adopted, such as the reduction of mandatory deposits by banks, the injection of dollars into the exchange market, and action taken by official banks."
Brazil’s economy minister Guido Mantega recently said that the G20 was a "strong candidate" to coordinate actions relating to the global financial crisis, the Economic Times reported.
