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January 27, 2023
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Union attributes error in foreign exchange flow to BC emptying

Central Bank: commodities and inertia pressured inflation in 2022

The absence of public tenders and the lack of correction of wage gaps caused an error of US$ 14.5 billion in last year’s exchange flow, informed today (27) the National Union of Central Bank Employees (Sinal). In a note, the entity demanded clarification from the president of the autarchy, Roberto Campos Neto.

“The union understands that the accelerated process of emptying the autarchy’s staff, in view of the absence of new competitions and the devaluation of its functional body compared to other strategic institutions of the State, which also contributes to the evasion of highly qualified, creates an environment conducive to the occurrence of possible mistakes”, highlighted the statement.Union attributes error in foreign exchange flow to BC emptying

The entity pointed out that the BC has not promoted public tenders for ten years, without replacing civil servants who retire or who are attracted by the private sector. The union also reported that “lagged wages and unjustifiable asymmetries” deteriorate the work climate and interfere with routine.

Support

The union expressed its support for the servants of the house, in charge of collecting and publishing the data. The entity also pointed out that BC officials are continuing projects that were interrupted in the first half of last year, after a standard operation at the beginning of the year and a strike which lasted for three months.

“Despite this, the servants of the monetary authority have carried out their duties with exemplary character, diligence and excellence. Proof of this are the good daily deliveries and recent major projects: Pix, Open Finance, Receivables System, etc. Fruit of the tireless work of the entire functional body, which has been impelled to do more with less on a daily basis”, he informed.

The entity also supported the head of the BC’s Department of Statistics, Fernando Rocha, who revealed the error yesterday (26) at a press conference. “In view of the great repercussion of the issue, Sinal reaffirms its confidence in the quality and honesty of the work of the servers that make up the Department of Statistics (Dstat), under the command of colleague Fernando Rocha”, highlighted the statement.

Charge

Sinal also demanded clarification from the president of the BC, Roberto Campos Neto, and from other bodies, such as the Economic Policy Secretariat, about the situation of the body’s employees. According to the entity, an autonomous monetary authority cannot do without valued servers and must operate with a number of servers compatible with its attributions.

“Finally, it is worth highlighting that it would be up to the holder of the Economic Policy portfolio, or even President Roberto Campos Neto, to come forward to publicize further clarifications and reinforce confidence in the work of the BC’s staff. True leadership takes place at times like this and not just at public ceremonies, in Brazil and abroad, surrounded by flattery for the great achievements of the Central Bank”, claimed the union.

Error

At a press conference yesterday (26), Fernando Rocha stated that the 2022 exchange rate figures underwent an extraordinary adjustment, due to an internal error caused by the creation of exchange operation codes with the new legislation. After the revision, last year’s exchange flow registered a net outflow of US$ 3.233 billion, instead of a net inflow of US$ 9.574 billion.

In addition to the difference of about US$ 12.8 billion last year, the BC recorded a gap of US$ 1.7 billion between October and December 2021. This raised to US$ 14.5 billion the total wrongly accounted for by the BC.

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