Brazil's Senate approves 3 Central Bank directors

www.forbes.com Reuters, 03.13.03, 5:40 PM ET

BRASILIA, Brazil, March 13 (Reuters) - Brazil's Senate on Thursday approved three new Central Bank directors who had been nominated to the bank's board by the new government of President Luiz Inacio Lula da Silva, lawmakers said. Luiz Augusto Candiota, who is replacing Luiz Fernando Figueiredo as monetary policy director, won 60 votes versus six against. Paulo Sergio Cavalheiro, who will become the bank's new oversight director, and Joao Antonio Fleury Teixeira, who will head the bank's administration department, won similar-sized votes, lawmakers said. The three new directors were nominated by the government last month.