BRASILIA Brazil's central bank employees said on Monday they would intensify work stoppages in protest of the government's alleged failure to address career improvement demands, a move that will impact the development of new initiatives at the bank.
The National Union of Central Bank Employees (SINAL) said in a statement that this phase of the protest is expected to affect the timeline for launching the Brazilian central bank's digital currency, DREX, initially slated for late 2024.
The central bank said it would not comment on the matter.
Additionally, the labor actions are expected to impact the rollout of new features on the instant payment platform Pix, which garnered wide public acceptance after its launch in late 2021. Central bank authorities have been emphasizing the introduction of installment-based payments.
The labor actions, which have been going on since July, have caused brief delays in the release of economic activity data, savings accounts figures, and the schedule for an innovation laboratory known as LIFT at the central bank.
The employees are advocating for central bank analysts to be treated as auditors, ensuring they receive compensation tied to productivity, similar to federal revenue auditors. They are also pushing for higher education requirements for technical positions.
According to the union, the decision to escalate the movement came after a meeting with the federal government concluded on Monday without indicating a new date for resuming negotiations.
(Reporting by Marcela Ayres in Brasilia; Editing by Matthew Lewis)
