President of CAE arranges Galípolo hearing for 10/8

The president of the CAE (Committee on Economic Affairs) of the Senate, Vanderlan Cardoso (PSD-GO), agreed with the group’s senators to interview and vote on the nomination of Gabriel Galípolo for the Presidency of the BC (Central Bank) on October 8. The date has not yet been made official, but it has already been communicated to the senators by Vanderlan, according to the Poder360.

The President of the Senate, Rodrigo Pacheco (PSD-MG), had already announced this Wednesday (September 5, 2024) that Galípolo’s nomination would be voted on by the plenary on October 8. He stated, however, that it would be up to Vanderlan to schedule the vote in the CAE.

It is up to the collegiate to make an initial analysis of Galipolo and issue an opinion on the nominee. The rapporteur for the nomination will be the government leader in the Senate, Jacques Wagner (PT-BA).

It is common for those questioned by the House to undergo committee analysis in the morning and have their names evaluated by the plenary in the afternoon.

CONCERN ABOUT INTEREST

Galípolo began a tour this week to talk to senators. In some of the conversations he expressed concern about the increase in interest rates.

“He left a good impression. He talked about maintaining the inflation target, said he was concerned about the increase in interest rates and spoke of 3.1% economic growth.”he said Otto Alencar (PSD-BA), member of the CAE and leader of the largest group in the House.

Galípolo should not face resistance from senators. Even members of the opposition to the government tend to support him.

“The meeting went very well. I really liked him, I will support him,” states Ciro Nogueira (PI), president of the PP and member of the CAE.

How will the processing be?

Galípolo’s nomination was announced on August 28 by Finance Minister Fernando Haddad.

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.