Alvaro Santos Pereira Nominated as Portugal's Central Bank Governor
Portugal's government has nominated Alvaro Santos Pereira, the OECD's chief economist, to succeed Mario Centeno as the central bank governor. This decision follows Centeno's criticized transition from finance minister to central bank head, which raised concerns about institutional independence.
- Country:
- Portugal
In a move to appoint new leadership at the central bank, the Portuguese government on Thursday nominated Alvaro Santos Pereira as its next governor. Pereira, currently serving as chief economist at the OECD, is set to replace Mario Centeno, whose term ended on July 19.
The announcement was made by Cabinet Minister Antonio Leitao Amaro following a weekly cabinet meeting. Centeno has faced criticism from the current political right for shifting from finance minister in a Socialist government to governor in 2020, raising questions about the bank's independence.
Central bank governors are appointed for five-year terms, with the possibility of reappointment. Although Centeno expressed willingness to continue, the nomination process requires parliamentary review, albeit without blocking authority, before formal appointment by the government.
(With inputs from agencies.)
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