GUSTAVO FRANCO President, Central Bank of Brazil Gustavo Franco is the public persona of Brazilian financial policy. Boyish-faced but combative, the 41-year-old central bank president is largely responsible for the day-to-day management of Latin America's largest economy. Franco's gradual devaluation of the currency and careful hoarding of $62 billion in reserves make him confident he can avoid an Asia-style run on the real, despite a growing trade deficit. ''Speculative attacks occur only in countries whose fundamentals aren't good,'' he crows. With a PhD in economics from Harvard, Franco favors some government intervention in markets, but says he has an ''overall orientation to opening the country to foreign competition.'' If he can maintain a steady hand, Franco's legacy as guarantor of Brazil's stability will be set. By Ian Katz in Sao Paulo Return to main story

Updated Oct. 16, 1997 by bwwebmaster
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