Minister of Finance says that the hearing of those appointed by the future president of the Central Bank should be held in November
The Minister of Finance, Fernando Haddadstated this Wednesday (9.Oct.2024) that the next person to assume the presidency of B.C. (Central Bank), the current director of Monetary Policy Gabriel Galípolo, will present to the president Luiz Inácio Lula da Silva (PT) names for new directors of the monetary authority.
Galípolo, who was examined and approved by the Senate on Tuesday (Oct 8), will officially assume the presidency of the Central Bank in 2025. Lula has to nominate 3 names for the authority: 1 for the vacancy left by Galípolo and 2 to replace directors whose mandates will end on December 31, 2024 (Relationships, Citizenship and Conduct Supervision and Regulation).
“Galípolo was in charge of presenting some names to President Lula, as he is the one who nominates the employees who will be questioned. We imagine that it will be possible to hold the hearing in November. Let’s first submit the names to the presidency and then take the nominations to Senator Rodrigo Pacheco [presidente da Casa Alta, PSD-MG]so he can set a date”Haddad told journalists.
Traditionally, the Monetary Policy directorate is occupied by someone with experience in the financial market, while the other two vacancies are usually filled by career Central Bank employees.
The Minister of Finance stated that he has “concern about gender issues” in filling vacancies. The BC’s only female director, Carolina de Assis Barros (Relationship, Citizenship), will leave her position on December 31st.
“We are looking for people with technical maturity to help devise the best strategy to combat inflation and bring it back to the target”said Haddad.
GALIPOLO SABATINE
Galípolo was approved in the Senate plenary on Tuesday (October 8, 2024) as the new president of the BC from January 1, 2025. He will remain in office for 4 years and may be reappointed for a new term from 2029. There were 66 votes in favor and 5 against. The vote was secret.
Earlier, it had already been discussed and unanimously approved by the CAE (Economic Affairs Commission).
Current director of Monetary Policy at the BC, Galípolo is Lula’s chosen one to replace Roberto Campos Neto, the 1st president of the autonomous BC – the target of criticism from Lula and the president of the PT, Gleisi Hoffmann (PT-PR), for allegedly acting in the service of the former president Jair Bolsonaro (PL), who nominated him to the BC.
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