President of the Central Bank commented on the appointment of the current director of the institution by the Lula government during an event in SP
The president of BC (Central Bank), Roberto Campos Neto, said this Thursday (Aug 29, 2024) that the proximity of Gabriel Galípolo, current director of Monetary Policy and appointed to replace him, with the president Luiz Inácio Lula da Silva (PT) should not get rid of “pressure”.
“I think calm is difficult, pressure is part of it. There is a positive dimension to pressure, because we learn more and end up studying more. I think so, yes, we will go through pressure like I did. The important thing is to understand that institutionality is improving, we need to get the Central Bank out of this polarization”said Campos Neto during the CNN Talksin Sao Paulo.
Campos Neto, appointed by the former president Jair Bolsonaro (PL), recalled that, if confirmed as the new president of the institution, Galípolo will have a term from 2025 to 2028.
“He will serve another term, which may or may not be in the same government. So it is important to understand that this is part of the history of the Central Bank from now on. In some cases, it involves working with an executive who was not the one who appointed him.”he stated.
The economist also said he hopes his successor will be judged on technical decisions, and not on possible political affinities. He made the statement with indirect references to the use he made of the Brazilian National Football Team jersey, associated with Bolsonaro supporters, to vote in the 2022 elections and to the dinner hosted by the governor of São Paulo, Tarcisio de Freitas (Republicans).
“I always say that I hope he is not judged by the shirt, nor by the dinner, nor by the event he attended, but by the technical decisions he made.”
The nomination of Galípolo to the position, which had been rumored for months, was announced this Wednesday (August 28) by the Minister of Finance, Fernando Haddad.
After the official announcement, the current president congratulated the director of Monetary Policy in a public statement.
“Campos Neto has worked harmoniously and constructively with Director Galípolo since his arrival at the Central Bank. Campos Neto wishes Galípolo much success in this new phase of his professional life.”the statement said.
How will the process be?
The Constitution determines that it is up to the Federal Senate “approve in advance, by secret ballot, after public discussion” the candidate for the presidency of the BC.
Here is the process that Gallipolo will go through:
- the government sends the Senate the nomination of the president of the BC by message;
- the message is read in plenary and sent to the Senate’s CAE (Economic Affairs Committee);
- a rapporteur is appointed, who will issue an opinion to certify whether or not the person appointed is qualified to perform the role;
- the nominee is questioned by the CAE and the committee analyzes whether to approve it or not. Of the 27 votes, a simple majority is needed (half of those present + 1);
- the opinion, with approval or rejection, is read in the Senate plenary;
- the 81 senators analyze the name of the nominee and vote in favor or against;
- to be approved in the plenary, it needs a simple majority;
- If approved, the Senate notifies the presidency, which publishes the name in the Official Gazette of the Union.
On Tuesday (27th August), the president of CAE, Vanderlan Cardoso (PSD-GO), stated that the chance of holding the hearing in the 1st week of September “is zero”. According to the congressman, the CAE is not “pastry” and “there is no reason to rush”.
Asked about Gabriel Galípolo’s profile, Vanderlan stated that he was a “communicative person” and that “doesn’t see any problems” upon approval of the name.
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