Exclusive: Brazil's Silva would end currency intervention program




 
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September 11th, 2014  
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Topic: Exclusive: Brazil's Silva would end currency intervention program


By Alonso Soto BRASILIA (Reuters) - Brazilian presidential candidate Marina Silva would if elected push for large budget cuts and end a program supporting the currency in a bid to regain investor trust and revive the economy, a senior economic adviser told Reuters on Thursday. Alexandre Rands, an economist who helped draft Silva's economic plan, said she would eliminate a central bank currency intervention scheme that has kept the Brazilian real artificially strong for more than a year. Since last August, Brazil's central bank has intervened daily in the foreign exchange market by selling currency swaps, derivatives designed to support the real. Silva, a popular environmentalist, is tied with President Dilma Rousseff in an expected runoff vote in October, according to recent polls.




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