Who’ll be the next Governor of the Bank of Portugal?

The successor to Mário Centeno at the helm of the Bank of Portugal could be announced as early as next week following a meeting of the Council of Ministers today. (Friday 18)

Or he or she could be announced later. Either way, any of the suggested candidates will have some very big shoes to fill after Mário Centeno departs at the end of this month after having served variously as Portugal’s Minister of Finances (2025-2020), President of Eurogroup (2018-2020) and Governor of the Bank of Portugal 2020-2025).

According to Portuguese media sources, Portugal’s Prime Minister Luís Montenegro should announce Centeno’s replacement with several names excluded and some in the running.

The decision is seen as a priority and is likely to be taken over the next few days.

The economists that have been ruled out so far are: Vítor Gaspar (a former Minister of Finances), Ricardo Reis ( an economist at the LSE), Álvaro Santos Pereira (Minister of the Economy, 2011-2013), and Cristina Casalinho (Formerly headed Portugal’s treasury and public debt institute. (IGCP)

Currently being looked at are João Cabral dos Santos, an economist working at the New York Federal Reserve, and António Ramalho who had been the president of Novobanco during its years of restructuring.

So where now for Mário Centeno – probably the best Governor of the Bank of Portugal in the past 15 years and the first in 25 years to not have his term renewed?

Some pundits suggest he could now head for the European Central Bank. We’ll have to see, so watch this space.

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