Who Will Be the Next Governor of the Bank of Portugal? Decision Expected Soon

The Portuguese government is set to announce the name of the next governor of the Bank of Portugal following the Council of Ministers meeting this Thursday. Mário Centeno, whose term ended last weekend, has expressed willingness to stay, but his reappointment is not anticipated.

Tensions between Centeno and the government marked his tenure. Meanwhile, the Democratic Alliance government has requested an audit by the General Inspectorate of Finance into the construction process of the Bank of Portugal's new headquarters in Lisbon. The governor's term lasts five years.

António Mendonça Mendes, PS parliamentary group vice-president, urged the government to decide on the new governor without "distraction maneuvers", criticizing the audit request as "very ironic".

Prime Minister Luís Montenegro emphasized that the profile of the Bank of Portugal's governor remains unchanged: "A competent person who ensures the fulfillment of a central bank's functions within the European framework."

The Chega party leader criticized Centeno, highlighting the renewal of Álvaro Novo's contract as the governor's office director as Centeno's term ended. The governor's appointment requires parliamentary approval, likely postponed to September due to current committee schedules.

Chega's leader accused Centeno of lacking independence, pointing to his transition from Finance Minister to Bank of Portugal governor under PS and remaining under PSD.

The Liberal Initiative advocates for selecting the governor through an international public tender, excluding those with government roles in the past three years.

Centeno, appointed in July 2020 by the socialist government, served as Finance Minister from 2015 to 2020.