A Departure, But a Steadfast Policy

A Departure, But a Steadfast Policy

Brazil

Daniel Gleizer Brazil's Central Bank has transformed itself over the last few years. Not long ago, it was a secretive institution run by career bureaucrats suspicious of the international capital markets. Now the bank is known for its team of highly regarded former investment bankers, economists and financiers led by Arminio Fraga. Fraga is losing one of the most visible members of his team with the departure of Daniel Gleizer, who has quit as international director. Gleizer, an earnest 41-year old, is the second central bank official to resign within the last year. Sérgio Werlang left last year as

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