Armínio Fraga Neto (born 20 July 1957, in Rio de Janeiro) is a Brazilian economist who was president of the Central Bank of Brazil from 1999 to 2003.

Since 2001, he has been a member of the influential Washington-based financial advisory body, the Group of Thirty.

In 2003, he founded the Rio de Janeiro based investment company, Gávea Investimentos.

Fraga has been called the Alan Greenspan of Latin America for his skillful handling of Brazilian monetary policy during his tenure as CBB president.

In 2009, Fraga served on the High Level Commission on the Modernization of World Bank Group Governance, which – under the leadership of Ernesto Zedillo – conducted an external review of the World Bank Group's governance.