Central Bank Governor Henrique Meirelles shares lessons learned in Brazil’s economic turnaround
Brazilian IBS student Milla Cieszkowsky Elias MAief '10 with Henrique Meirelles and Dean Bruce Magid.
Waltham, MASS – May 21, 2010
Brazil’s Central Bank Governor Henrique Meirelles said that a highly focused approach in tackling inflation, fiscal vulnerability, and balance of payments was the critical factor in stabilizing the country’s economy and unlocking its future potential.
Speaking at an event sponsored by the Perlmutter Institute for Global Business Leadership at Brandeis International Business School, Meirelles described Brazil’s economic challenges when he joined the central bank in 2003, his strategy for addressing them, and the lessons learned from the most recent global economic crisis.
Presented with sustained hyperinflation, high external debt, and unemployment rates in the low teens, Meirelles is widely credited as being the key architect of Brazil’s transition into one of the global economy’s current shining stars. The Boston Globe recently reported that Meirelles is now “the envy of most central bankers around the world” given the success the country has enjoyed in recent years.
In introducing Meirelles, Brandeis University President Jehuda Reinharz said the governor “bears much of the responsibility for putting his nation on the path toward prosperity.” He continued, “but he also has worked with great passion to give his people a deep sense of their own accomplishments.”
A former senior banker in Boston, Meirelles was at Brandeis to accept the Perlmutter Award for Excellence in Global Business Leadership. In a video address, Louis Perlmutter ’56 praised Meirelles’ vision and leadership in positioning Brazil for continued future growth.