Armando Castelar (born November 5, 1955, in Rio de Janeiro, Brazil) is a Brazilian economist who was Head of the Economics Department of the Brazilian Development Bank (BNDES) for eight years, leading the Bank´s research work and advising the Executive Board on macroeconomic issues.
He is also a former analyst of Arminio Fraga and his Gávea Investimentos.
Since 2010 he has been Coordinator of Applied Economic Research at Instituto Brasileiro de Economia (IBRE)/Fundação Getúlio Vargas (FGV), Brazil's leading think tank, and Professor of Economics at the Federal University of Rio de Janeiro.