New Sabotage: Campos Neto gives an interview to BlackRock and says he is studying outsourcing the management of Brazil's assets

247 – President of the Central Bank, Roberto Campos Neto, who has been accused of sabotaging the Brazilian economy with the highest real interest rate in the world, sparked another major controversy on Thursday. In an interview with the U.S. firm BlackRock, a manager of trillions of funds, he stated that he is studying outsourcing the management of Brazilian assets. Currently, the Central Bank is responsible for managing Brazil's international reserves, which amount to approximately US$ 380 billion. Read more in the Reuters report:

BRASÍLIA (Reuters) - The President of the Central Bank, Roberto Campos Neto, stated on Thursday that the monetary authority is open to putting part of its total assets under outsourced management, with the aim of expanding different asset classes in the agency's portfolio.

"We are open to this outsourcing, external management, let's say... Currently, most of the management is not outsourced, but we are open to doing this in this area, mainly because we are now looking at new asset classes," he said in an interview recorded with BlackRock Brasil.

Campos Neto explained that the Central Bank had a previous outsourced management program, but it has not been resumed since it ended because it would be more advantageous for the agency to keep some operations within its own system.

"We understood that some outsourced management programs could be done within the Central Bank, and that would generate a positive synergy because the operational team of the Central Bank would learn about assets, and learning about assets is very helpful for the day-to-day activities of the Central Bank," he said.

The President of the Central Bank explained that outsourced management works as a cycle in which assets are constantly included and withdrawn from the model as the agency's team becomes familiar with the management process of new assets.

"The other day, we mentioned thinking about some asset classes that we don't currently operate, always trying to learn as much as possible about the largest number of assets within the criteria I mentioned earlier, which are capital preservation, governance, and sustainability," he said.

The interview with BlackRock was recorded by Campos Neto on June 13th and aired on Thursday afternoon.