The government will not reappoint the current governor of the Bank of Portugal (BdP), and Prime Minister Luís Montenegro is expected to announce the successor to Mário Centeno on Friday after the meeting of the Council of Ministers.
The former finance minister’s term ends this coming weekend.
The choice of the next central bank governor is anticipated to be a surprise, with Montenegro likely selecting someone from outside the country, dismissing names that have been speculated.
Removed from consideration are former Finance Minister Vítor Gaspar and economist Ricardo Reis, a professor at the London School of Economics.
Reports indicate that Vítor Gaspar has accepted another position within a different institution, to which he will transition after leaving the IMF, and Ricardo Reis is not considered an option for the prime minister.
Following the State of the Nation debate this afternoon, the government will convene in a Council of Ministers meeting tomorrow, with the selection for the Bank of Portugal slated for discussion, a day before Centeno’s term ends.
Given the delay in naming a successor, Centeno may need to remain in office until September.
When questioned a month ago about his future following the end of his term as governor of BdP, Mário Centeno stated he is “always available for the country.”
“I have a mandate to fulfill, I would say fulfilled, I am always available for the country, whether in the Government, at BdP, or at a university doing what I love most, which is speaking,” said the central bank governor during the press conference presenting the June Economic Bulletin.
Mário Centeno stated today that he is “always available for the country” when questioned about his future after his term as governor of the Bank of Portugal (BdP) ends.
Lusa | 12:23 – 06/06/2025
Last month, the Socialist Party advocated for the governor’s reappointment, emphasizing Mário Centeno’s recognized competence and stating that “a lot of justification” would be necessary for not reappointing him for a second term.
“Professor Mário Centeno is probably one of the most qualified people in Portugal, and a lot of justification or a very plausible justification would be needed for his non-reappointment,” said PS deputy António Mendonça Mendes in statements to the Lusa agency at the time.
The PS stated this Saturday that the competence of the governor of the Bank of Portugal, Mário Centeno, is recognized and that “a lot of justification” would be necessary for not reappointing him for a second term, also accusing the leader of Chega of ignorance.
Lusa | 12:19 – 07/06/2025
Meanwhile, Chega leader André Ventura has called for a hearing of the BdP governor in the Assembly of the Republic, accusing him of withholding economic forecasts until after the elections to benefit the AD government.
The president of Chega announced today that he will request a hearing with the governor of the Bank of Portugal in Parliament, after questioning whether the release of economic forecasts post-elections aimed to benefit the government.
Lusa | 19:54 – 06/06/2025
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