Centeno will leave Banco de Portugal. No one tells you when

The government postponed the announcement that was scheduled for Friday about who will be the successor of Centeno in Banco de Portugal’s leadership. The impasse can lead to replacement only in September.

Mario Centeno’s mandate as governor of Banco de Portugal ends this Saturday, but the uncertainty about his successor is prolonging the economist’s permanence in office. According to the government, the government has not yet communicated to Centeno until when it will have to remain in office, as the replacement process is late.

According to, Luís Montenegro only closed the choice of the new Central Bank leader on Wednesday, after several hypotheses fell. Among the probed names were Vítor Gaspar, current director of the IMF Department of Public Finance, which will have opted for another challenge, and Ricardo Reis, a Portuguese -based Portuguese economist, who also refused.

The delay in appointment creates an additional problem: a compulsory hearing From the new name in Parliament, which takes a break for vacation next week. The alternative would be an emergency hearing, dependent on parties. Without it, Centeno can stay in office until Septemberwhen they return the parliamentary work. On Thursday, the current governor will also participate in the monthly meeting of the European Central Bank, which could decide a new reduction in interest rates, not knowing who will be his successor.

Historically, the nominations for Banco de Portugal fulfill the deadlines, as occurred five years ago with the departure of Carlos Costa. Moreover, tradition has been to go back governors for a second term, something that will not happen this time.

According to information collected by Expresso, the President of the Republic, Marcelo Rebelo de Sousa, was again removed from the process of choice. Although Belém’s palace does not confirm, this would not be the first time this has happened. Marcelo has already complained of the Prime Minister’s decisions to the last minute, as in the case of NAME OF AMADEU GUERRA to the Attorney General’s Office.