Affonso Celso Pastore dies at age 84; economist was president of the BC

Professor and economist Affonso Celso Pastore passed away this Wednesday (21) at the age of 84 of a cause not yet disclosed. He was hospitalized after spending the weekend in the ICU after undergoing surgery last Saturday (17).

In 2021, Pastore participated as an economic advisor to Sergio Moro’s campaign for the presidential elections, for Podemos. Despite Moro’s withdrawal – who ended up running for the Senate in 2022 for União Brasil-PR –, the economist continued to be a respected voice in the country’s economic debate.

“Brazil loses one of its greatest economists, Affonso Celso Pastore, who stood out for the rigor and integrity of his economic analyses. I had the opportunity and honor to receive his advice. His work and legacy will continue. My condolences to Cristina and her family”, said Moro.

Pastore was president of the Central Bank in the 1980s and considered an important character in the Brazilian economic scenario. In addition to the monetary authority during the Figueiredo government, the economist worked at the Institute of Applied Economic Research (Ipea) and the Institute of Economic Research (IPE) at USP. In 1993, he founded his consultancy, AC Pastore & Associados, alongside Maria Cristina Pinotti.

With a distinguished career, Affonso Celso Pastore began his career as an advisor to the then Secretary of Finance of São Paulo, Antônio Delfim Neto, whom he considered his mentor. With a degree and doctorate from the University of São Paulo (USP), he was part of Delfim’s team of advisors when he became Minister of Finance in 1967.

During his term as president of the Central Bank between 1983 and 1985, Pastore played a crucial role in Brazil’s economic growth, standing out for negotiating external debt with the International Monetary Fund (IMF).

Author of several works, including “Errors of the Past, Solutions for the Future”, Pastore left an important legacy in Brazilian economic analysis. In 2020, he was honored in a publication that brought together articles and an unprecedented interview signed by renowned economists in the country, such as Delfim Netto, Armínio Fraga Neto, Ilan Goldfajn, among others.