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Overview
- He died Friday in Rio de Janeiro at Hospital Pró-Cardíaco after weeks in intensive care, according to Brazilian outlets.
- He helped create the Central Bank’s monetary policy committee, the Copom, which sets the Selic interest rate and anchors Brazil’s inflation-targeting framework.
- He worked on key stabilization efforts, including the Cruzado and Bresser plans, and later advised the team behind the Real plan that tamed hyperinflation.
- He led the Central Bank briefly in January 1999 during the exchange-rate turmoil as a planned move from a fixed to a floating currency regime faltered, and he left the post soon after.
- He was later tied to the Marka–FonteCindam rescue, with a 2012 ruling for administrative impropriety and reimbursement and a 2016 decision declaring the crimes time-barred, and a wake is set for Saturday at Cemitério do Caju in Rio.