Santos Pereira Set to Succeed Centeno as Portugal's Central Bank Governor

The Portuguese government has nominated Alvaro Santos Pereira, currently the chief economist at the Organisation for Economic Cooperation and Development (OECD), as the next governor of Portugal's central bank. This decision follows the end of Mario Centeno's term on July 19, as announced by Cabinet Minister Antonio Leitao Amaro during a weekly cabinet meeting.

Santos Pereira, who has served as economy minister in a previous centre-right government during the European debt crisis, will face a parliamentary committee for questioning. Although the committee lacks the power to block his nomination, the hearing is a customary part of the appointment process. His predecessor, Centeno, faced criticism for joining the bank after serving as finance minister in a socialist administration, raising concerns about the institution's independence.

At 53, Santos Pereira brings vast experience, both as the OECD's chief economist and a knowledgeable figure in both Portuguese and international economies. Leitao Amaro praised him as a globally respected and independent voice. His previous efforts at OECD involved designing strategies to foster long-term economic growth among 38 developed nations.

(With inputs from agencies.)