The Brazilian economy is facing three paradoxes. Such assertion is made by the former president of the Central Bank of Brazil and director of FGV's Center for World Economics, Carlos Langoni, in an interview with The Wall Street Journal Latin America.  The first paradox, according to Langoni, is the struggle of the Central Bank to hold inflation and prevent an excessive appreciation of the Real. Inflation is very high even in Brazil, explains Langoni, arguing that it should be prioritized.  Despite criticism about the economic conduct and the slowdown in growth, foreigners continue to invest in Brazil and markets remain willing to do so at very convenient rates, says Langoni when defining the second paradox.  Finally, a less dynamic economy has not affected employment. Also according to Langoni, the Real remains undervalued and the projection for the exchange rate this year should continue around BRA 2.00 a dollar.  Carlos Langoni is in New York participating in a conference organized by FGV Projetos and The Brazilian-American Chamber of Commerce.  Click below to read the full interview. (Available in Spanish)