ex-president of the BC in the Sarney administration was 94 years old

Died today, at age 94, Elmo de Araújo Camões, former president of the Central Bank in the government of then president José Sarney. The cause of death was not disclosed.

Camões led the BC between March 1988 and June 1989, years in which the country faced hyperinflation. In 1988, the rise in prices exceeded 1,037%.

But, before being appointed to the position, the executive held positions in other institutions, such as Banco do Brasil – where he was a career employee -, in addition to Banco society general Brazil and in the former Banespa.

The board of the Central Bank released a note of condolence for the death of the former president, and offered its solidarity to family and friends. According to the institution, Camões “marked his management for his tireless effort to increase the efficiency of the national financial system and worked hard in the search for solutions to the then serious problem of Brazilian foreign indebtedness”.

Febraban (Brazilian Federation of Banks), where the executive held board positions, also mourned Camões’ death. The note, signed by President Isaac Sidney, says that he “leaves an important legacy to the National Financial Sector in his extensive career”.

“In the presidency of the Central Bank, among other marks, he instituted the Multiple Banks, modernizing the Brazilian banking system”, says the text.

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

Check Also

Amazon to close bookstores and other physical stores | Technology

Amazon said on Wednesday it plans to close all 68 brick-and-mortar bookstores, kiosks and toy …