Brazil’s central bank President Fernando Milliet resigned...

Brazil’s central bank President Fernando Milliet resigned and the government fired the president of the semi-official Banco do Brasil, Camilo Calazans, government officials said. No immediate explanation was given for the dismissals. Milliet, the fourth central bank president under Brazil’s 3-year-old civilian regime, was in charge of negotiating the refinancing of Brazil’s huge $113-billion foreign debt. Milliet was to be replaced by Elmo de Araujo Camoes, an experienced banker with the Banco do Brasil, the Sao Paulo State Bank Banespa and the Sogeral bank. He is a member of the government’s national monetary council.