Governor of Bank of Portugal resisting pressure to resign

Portugal’s central bank governor Mário Centeno says he won’t step down from his position at the financial supervisor despite some pressure to do so, and says he may even stand for a second term.

Some sections of Portugal’s body politic say his invitation by the caretaking Prime Minister, António Costa, to lead the government after his (Costa’s) resignation, say the fact he was thinking about accepting the role was unethical and called into question the Bank of Portugal’s independence in what they say would have resulted in a revolving door scandal.
Moreover, Mário Centeno has decided to complete his mandate until the summer of 2025, and hasn’t ruled out a second term heading Portugal’s central bank.
However, this personal intention may or may not depend on the new year’s general election, and whichever government or coalition government is in power in 2025 given that the governor and other members of the Bank of Portugal’s Administrative Council are appointed by a Council of Ministers resolution.
If the elections on March 10 are won by the PSD, the chance of Mário Centeno taking a second term would be remote given he served in the António Costa government as the Finances minister.

Photo: American Club of Lisbon