Central Bank: Brazil's economy recovering

SAO PAULO, March 19 (UPI) -- Brazil's Central Bank president assured businessmen and investors Friday the worst days for the nation's floundering economy are behind them.

"The economy is growing in 2004, the worst is already behind us," said Henrique Meirelles. The bank president's assurance of growth follows a disappointing 2003 in which the Brazilian economy shrank by 0.2 percent.

High interest rates and unemployment hovering around 11 percent were blamed for the economy's failures last year, as were the policies of Meirelles and Finance Minister Antonio Palocci.

A handful of lawmakers and prominent businessmen in recent days have called for the Central Bank president and Palocci to resign.