Highly commended: Luis Angel Rojo, Central banker, Spain
Highly commended: Gyorgy Suranyi, Central banker, Hungary
Brazil’s textbook response to last October’s Asian crisis turned central bank governor Gustavo Franco into a figure of world renown. The doubling of interest rates together with fiscal cuts kept Brazil stable and gave credence to the current policy regime – fixed exchange rate with crawling devaluation and capital controls in an otherwise market-oriented environment – that Franco is associated with.
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