Arminio fraga biography of william hill
The author of this Essay, Arminio Fraga, is at the Banco de....
Arminio Fraga, Soros Fund Management
Prior to joining Soros Fund Management in early 1993, Arminio Fraga
served as a board member and director of international affairs at
the Banco Central do Brasil.
ARMINIO FRAGA.
During his year and a half at the
central bank, Fraga was involved in negotiations with the IMF, the
Paris Club and private creditors, as well as managing the bank’s
foreign exchange desk and reserves and the reforming of foreign
investment laws and regulations.
On his days at the central bank…
We were the second economic team under President Collor. The team
was headed by Marcilio Marques Moreira and Francisco Gros, and I
went down to work with them. Our goal was first to try to stop the
bleeding.
We had no reserves. All the assets were frozen, the
privatization program was stuck and inflation was really high. We
actually had as one of our goals to negotiate a stand-by agreement
with the IMF, and in fact we did.
It was a great experience to work
with the IMF on a p