BRASILIA (Reuters) - Brazil’s new right-wing President Jair Bolsonaro will work to establish the formal independence of the country’s central bank in his first 100 days in office, his chief of staff Onyx Lorenzoni said on Wednesday.
Although the Brazilian central bank enjoys administrative autonomy, it is one of the few major central banks in the world that does not have formal institutional independence.
While campaigning last year, Bolsonaro promised to propose legislation to make the bank formally independent.
Lorenzoni spoke to reporters on the goals of the first 100 days of the Bolsonaro administration, which took office on Jan. 1.
He said the government also aims to obtain approval from the National Energy Council of the revision to the government’s “transfer of rights” contract with state-run oil company Petroleo Brasileiro S.A., opening the way for the sale of Santos Basin presalt areas by the third quarter of this year.
Petrobras could receive a potential 30 billion reais ($8 billion) and raise more than 120 billion reais for the government next year.
Speaking alongside Lorenzoni, Mines and Energy Minister Bento Albuquerque said the government has confirmed that the potential of the “rights of transfer” region exceeds the 5 billion barrels originally estimated.
Reporting by Anthony Boadle; Editing by Leslie Adler