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The Americas

Bank economist picked for Brazil central bank governor

Associated Press
Published | Updated
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    Brazil's Finance Minister Henrique Meirelles listens to a question during a press conference in Brasilia, Brazil, Tuesday, May 17, 2016. Meirelles became Brazil's economy boss last week after interim President Michel Temer took office. In a press conference in Brasilia, the new finance minister said that the country will gradually win the trust of investors with its appointments and policies. (AP Photo/Eraldo Peres) (The Associated Press)

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    Brazil's Finance Minister Henrique Meirelles speaks during a press conference in Brasilia, Brazil, Tuesday, May 17, 2016. Meirelles became Brazil's economy boss last week after interim President Michel Temer took office. In a press conference in Brasilia, the new finance minister said that the country will gradually win the trust of investors with its appointments and policies. (AP Photo/Eraldo Peres) (The Associated Press)

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    Cast from the Brazilian film Aquarius hold placards protesting against the current political landscape in Brazil after departing the screening of the film at the 69th international film festival, Cannes, southern France, Tuesday, May 17, 2016. (AP Photo/Lionel Cironneau) (The Associated Press)

RIO DE JANEIRO – Brazil's finance minister has named the chief economist at the Itau Unibanco bank to head the central bank amid the country's worst economic crisis in decades.

Israeli-born Ilan Goldfajn also has been a director at the central bank worked at the International Monetary Fund.

Finance Minister Henrique Meirelles announced his appointment on Tuesday. He replaces Alexandre Tombini, who had served since 2011 under now-suspended President Dilma Rousseff.

Meirelles became Brazil's economy boss last week after interim President Michel Temer took office.

He also named a key opposition economist to his team: That's Mansueto Almeida, who had worked with defeated presidential candidate Aecio Neves. He'll be responsible for assessments of the economy.