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Leading Brazilian Jewish economist targeted by criticism ripped from ‘antisemitism handbook,’ Jewish groups say
RIO DE JANEIRO (JTA) — Jewish groups in Brazil are calling for a retraction after one prominent Brazilian economist questioned the loyalty of a Brazilian Jewish economist during an interview streamed by a widely viewed news organization.
The comments were about Ilan Goldfajn, a Brazilian-Israeli economist who was recently elected president of the Inter-American Development Bank, which promotes economic growth in Latin America and the Carribean.
Paulo Nogueira Batista Jr., a former executive director of the International Monetary Fund, said during the interview on Jornal GGN that Goldfajn is hostile to the government of President-elect Luiz Inacio Lula da Silva, and included his Jewish background as one of the reasons. Batista’s argument invoked multiple antisemitic tropes about Jewish power and dual loyalty.
“He is essentially a financier, connected to the U.S. Treasury, to the Jewish community. He is actually Jewish-Brazilian, born in Haifa, Israel. And the Jewish community has a strong presence in the U.S. Treasury, in the Monetary Fund, in international organizations, not only in private banks,” Batista said. “As a Brazilian, all he has is his passport.”
Batista also mocked Goldfajn’s last name, calling it “unpronounceable” for not having a Portuguese origin.
Goldfajn, 56, is a former president of Brazil’s Central Bank. He left Israel at an early age and was raised in Rio de Janeiro, where he attended a Jewish day school and is an active member of the Brazilian Jewish community.
Batista made the statements Dec. 16, but they only gained widespread notice Dec. 24 when several Jewish groups reacted fiercely. Several other non-Jewish figures followed suit, turning the episode in a firestorm in Brazilian media this week.
The Brazilian Israelite Confederation, the country’s umbrella Jewish organization, was the first to respond. “Batista resorts to old antisemitic clichés used by fascists and racists to vilify a Brazilian citizen who contributes so much to our country,” the group said in a statement posted to social media.
The Sao Paulo Jewish federation, which represents half of Brazil’s 120,000-strong Jewish community, followed suit.
“Associating Jews with money and power takes us back to the worst moments in human history that culminated in the persecution and death of our ancestors,” the federation said in a statement.
A note by B’nai Brith Brasil likened Batista’s comments to the Protocols of the Elders of Zion, the infamous falsification of European antisemites. And the Jews for Democracy nonprofit called the episode “a clear example of left-wing conspiracy anti-Semitism.” (Lula is leftwing and was narrowly elected to replace Brazil’s right-wing president, Jair Bolsonaro, a Christian nationalist who has been a strong supporter of Israel.)
The Brazil-Israel Institute demanded a public apology by the attack perpetrator and the show’s host, Luis Nassif, who later tweeted that he didn’t react because he considered the statement xenophobic, but not antisemitic.
“The statements are antisemitic as in an antisemitism handbook, establishing the classic relationship between Jews and money, triggering the thesis of a Jewish plot and even repeats logic that removes from the Jews the possibility of being Brazilian,” the institute posted on social channels.
Fluent in Hebrew, English, Portuguese and Spanish, Goldfajn has a doctorate from the Massachusetts Institute of Technology as well as bachelor’s and master’s degrees from the Pontifical Catholic University of Rio de Janeiro. In the mid-1990s he was a professor at Brandeis University.
His track record in banking in Brazil and beyond is extensive. He has served as chief economist at Itau, Brazil’s largest private bank, and deputy to the bank governor of Brazil, as well as adviser to the World Bank and the International Monetary Fund. In 2018, Goldfajn was named central banker of the year by the British magazine The Banker due to his successful performance at the helm of Brazil’s Central Bank, taming the country’s annual inflation.
“Ilan Goldfajn is a unique figure within the Brazilian economic scenario and a source of great pride for Brazil and for the Jewish community. He will certainly contribute a lot with his great experience,” Renato Ochman, president of the Brazil-Israel Chamber of Commerce, told the Jewish Telegraphic Agency in November, when Goldfajn was elected Inter-American Development Bank for a five-year term.
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Dollar Struggles to Rebound as Fragile US-Iran Ceasefire Keeps Markets Wary
U.S. $100 bills. Photo: Wikimedia Commons.
A fragile calm reigned across currency markets on Thursday as traders kept their eyes fixed on whether the ceasefire between the US and Iran would hold, a day after its announcement sent the dollar tumbling across the board.
The deal appeared to be on thin ice, as Israel bombed more targets in Lebanon, and there was no sign Iran had lifted its blockade of the Strait of Hormuz, which has caused the worst disruption to global energy supplies in history.
Iranian negotiators were expected to set off later on Thursday for Pakistan for the first peace talks of the war, but Tehran said there would be no deal as long as Israel was striking Lebanon.
President Donald Trump said all US ships, aircraft, and military personnel would stay in place in and around Iran until it fully complied with a deal.
The uncertainty left currency markets on edge.
The euro was up 0.17 percent at $1.1683. It had gained 0.6 percent on Wednesday, but retreated late in the day having touched a one-month high of $1.1721 earlier in the session.
Sterling similarly was 0.21 percent higher at $1.342, after gaining 0.77 percent on Wednesday, but retreating from as high as $1.348.
Meanwhile, the Japanese yen lost some ground, with the dollar up 0.3 percent at 159.055 yen, having briefly dropped below 158 on Wednesday.
With the Strait of Hormuz closed, “the entire ceasefire remains tenuous,” said Derek Halpenny, head of research global markets EMEA at MUFG. But, he added, “while the US dollar has rebounded, the moves in general have been modest.”
He said the fact that further talks scheduled in Pakistan were still going ahead was keeping any retracement of Wednesday’s moves in check.
Elsewhere, new personal spending data released on Thursday showed that US inflation increased as expected in February and likely rose further in March amid the war with Iran, a trend that is expected to discourage the Federal Reserve from cutting interest rates for a while.
The personal consumption expenditures price index climbed 0.4% after an unrevised 0.3 gain in January, the Commerce Department’s Bureau of Economic Analysis said on Thursday.
Japan’s consumer confidence worsened in March for the first time in three months, a government survey showed on Thursday, adding to a recent string of data pointing to the potential economic hit from the Middle East war, which would complicate the Bank of Japan’s rate-hike decision. The yen showed little reaction to the data.
Speaking in parliament, BOJ Governor Kazuo Ueda said real interest rates were clearly negative and were keeping the country’s financial conditions accommodative.
Other currencies were also broadly steady. The Australian dollar was 0.15 percent higher at $0.7054, while the New Zealand dollar was 0.46 percent higher at $0.585. In cryptocurrencies, bitcoin was last down 0.97 percent at $70,680.
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Opposition Leader Lapid Calls the Ceasefire with Iran a ‘Political Disaster’
FILE PHOTO: Israeli opposition leader Yair Lapid delivers a statement at the Knesset, Israel’s parliament,, in Jerusalem, February 13, 2023. REUTERS/Amir Cohen/File Photo
i24 News – Israeli opposition leader Yair Lapid on Wednesday launched a sharp attack on the ceasefire agreement reached between the United States and Iran, calling it a “political disaster” and directly blaming Prime Minister Benjamin Netanyahu.
In a post on X, Lapid said the agreement sidelined Israel from critical decisions affecting its national security. “Never in our entire history have we experienced such a diplomatic disaster,” he wrote, adding that “Israel wasn’t even at the table when decisions were made regarding the core of our security.”
Lapid accused Netanyahu of failing to translate military achievements into strategic gains, despite praising the performance of the Israeli military and the resilience of the public during the conflict. “The army has accomplished everything that was asked of it, and the citizens have shown remarkable strength,” he said.
However, he argued that those efforts were not matched by political leadership. “Netanyahu has failed politically, failed strategically, and has not achieved any of the goals he set for himself,” Lapid added.
The opposition leader also warned of long-term consequences stemming from the agreement, saying the fallout could take years to repair. He criticized the government’s handling of the crisis, citing what he described as “arrogance, negligence, and a lack of strategic vision.”
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A Toll for Using Hormuz Would Be a ‘Dangerous Precedent’, UN’s Ship Agency Says
A map showing the Strait of Hormuz is seen in this illustration taken June 22, 2025. Photo: REUTERS/Dado Ruvic/Illustration
Imposing a toll on ships sailing through the critical Strait of Hormuz would “set a dangerous precedent” and countries should not impede freedom of navigation, the UN’s shipping agency said on Thursday.
Iranian officials have raised the idea of charging a toll for using the Strait after a two-week ceasefire between the United States and Tehran was agreed this week.
“There is no international agreement where tolls can be introduced for transiting international straits. Any such toll will set a dangerous precedent,” a spokesperson with the UN’s International Maritime Organization said.
IMO countries adopted the UN Convention on the Law of the Seas, or UNCLOS, which outlines the rules that govern straits used for international navigation.
“According to UNCLOS, ships enjoy the right of transit passage through international straits. States bordering straits shall not hamper that right or suspend the transit passage,” the IMO spokesperson said.