Álvaro Santos Pereira Appointed as New Governor of Banco de Portugal

The Portuguese Government has officially announced Álvaro Santos Pereira as the successor to Mário Centeno at the helm of Banco de Portugal. The decision was made during a Council of Ministers meeting, with the Minister of Parliamentary Affairs, António Leitão Amaro, highlighting Pereira's "highly recognized" curriculum and deep understanding of both the Portuguese and international economies.

Álvaro Santos Pereira, a former Minister of Economy and Employment (2011-2013) under Pedro Passos Coelho's government, currently serves as the chief economist at the OECD. With a PhD in Economics from Simon Fraser University in Canada, Pereira has an extensive academic and professional background, including teaching positions at the University of British Columbia and the University of York.

Pereira's five-year mandate will involve overseeing banking supervision in Portugal and representing the country in the European Central Bank's governing council. Before his official appointment, Pereira must undergo a hearing at the Budget, Finance, and Public Administration Committee, a process that may delay his inauguration due to the parliamentary recess.

Mário Centeno, whose term ended recently, expressed willingness for a second mandate but was not reappointed by the Government. Centeno's tenure was marked by occasional tensions with the Government, particularly regarding his deficit forecasts. Centeno, appointed in July 2020 by the socialist government of António Costa, previously served as Minister of Finance from 2015 to 2020.