“Álvaro Santos Pereira has been appointed by the Government, including myself, in consultation with the Prime Minister. He is our choice and is an excellent economist with international credibility and experience in managing large organizations,” stated Miranda Sarmento upon arriving at the EurAfrican Forum 2025 in Cascais.
In a statement to journalists, the official noted that the decision was a joint choice, presented to the Council of Ministers, where the nomination was approved.
The Finance Minister highlighted Álvaro Santos Pereira’s experience, particularly citing his involvement in the government during what was described as “perhaps the most difficult moment of Portuguese democracy,” between 2011 and 2013, during the ‘troika’ intervention, and his position at the Organisation for Economic Co-operation and Development (OECD), where he has worked since 2014.
Miranda Sarmento assured that the independence of the Bank of Portugal (BdP) “is guaranteed with Álvaro Santos Pereira” and dismissed any doubts regarding it.
“I believe it is impossible to question his independence. Professor Álvaro Santos Pereira served the country, has no affiliation with the PSD, and served during perhaps the most challenging time of Portuguese democracy,” he said, referencing the early years of the ‘troika’ intervention.
The Government’s decision was announced on Thursday by Minister António Leitão Amaro during a press conference following the Council of Ministers.
When asked about his absence from the press conference, Joaquim Miranda Sarmento explained that “the most important decision” made during the meeting was the significant reform of labor legislation, which is why the Minister of Labor attended the conference.
Álvaro Santos Pereira served as Minister of Economy and Employment from 2011 to 2013 under Pedro Passos Coelho’s government (PSD/CDS-PP) and has been the chief economist at the OECD.
When questioned about refusals received during consultations with other potential candidates for the position of BdP governor, Joaquim Miranda Sarmento did not respond and walked away from the journalists, heading inside the auditorium where he was speaking.
