São Paulo, November 18, 2003 (Agência Brasil - ABr) - Macroeconomic stability is fundamental for attracting investments to the country, so investors can plan over the long run. This was what the president of the Central Bank, Henrique Meirelles, said on Monday (17), referring to risk capital. "Price stability is a fundamental condition for investment, to the extent that, without price stability and, consequently, macroeconomic stability, it is impossible to plan," he said.

According to Meirelles, predictability is necessary to attract long-term investments. "To the extent you have a very short planning perspective, you must obtain returns on your capital very quickly," he explained, adding that "it is important to have predictability, so that the returns required by the investors have a longer period to mature."

According to Meirelles, Brazil is on the way. "I think it is absolutely important for a country to have macroeconomic predictability, and Brazil is now on the way to this, already achieving it through price stability, stability of the fiscal budget, and, as a result, macroeconomic stability."

The president of the Central Bank participated in the closing ceremonies of the 1st International Forum on Venture Capital and Private Equity, sponsored by the Getúlio Vargas Foundation. (DAS)