Lisbon, July 24, 2025 (Lusa) - The Minister of Cabinet Affairs on Thursday defended the "political independence" of Álvaro Santos Pereira, distinguishing government experience a decade ago from Mário Centeno's direct transition from Minister of Finance to Governor of the Bank of Portugal.
At the press conference following the cabinet meeting, Leitão Amaro was asked about the choice of a former Minister of Economy from a PSD/CDS-PP government between 2011 and 2013 for the central bank, after stating that Santos Pereira did not come from a government.
"Professor Álvaro Santos Pereira has not been a government minister for more than a decade, is not a member of any political party, has never been a candidate for a political party, and has served Portugal," he said.
As for Mário Centeno, Leitão Amaro argued that the "proper preservation of independence’ would have recommended a ‘minimum period of two to three years" between the government and the Bank of Portugal.
"‘Experience in government positions can be an asset, provided that conditions of independence are guaranteed and there is no transition that is almost like changing boats without getting your feet wet,’ he said.
Centeno stepped down as finance minister on 15 June 2020, days after the government announced his departure from António Costa’s (PS) cabinet. The government proposed him as the new governor on 25 June, with him taking office on 20 July.
At today’s conference, Leitão Amaro justified the change in the central bank’s leadership by saying that Álvaro Santos Pereira is a “better choice” than the reappointment of the former finance minister.
"We have chosen someone who we believe is best for the job, naturally. We believe that Professor Álvaro Santos Pereira is better suited to the objectives of a central bank, which include supervisory authority, research, and statistical responsibilities, and is part of the Eurosystem and the European Supervisory Mechanism. The characteristics that led us to make this choice are the ones I mentioned. It is the best choice because he is independent: his background lies outside both the bank and any government,” the minister argued.
Although the Minister of Finance formally submitted Santos Pereira’s name to the cabinet, Joaquim Miranda Sarmento did not attend the press conference to confirm Centeno’s non-reappointment and the choice of his successor.
When asked about the minister’s absence, Leitão Amaro responded indirectly, explaining that government officials are sometimes absent to discuss the measures approved by the cabinet.
In a statement released after the conference, the Finance Minister’s office justified the choice of Santos Pereira and the appointment of Gabriel Bernardino as president of the Insurance and Pension Funds Supervisory Authority (ASF), also announced today, saying that both have “independence, competence and experience” for the positions, as well as “technical knowledge of the areas under their supervision”.
SMA/ADB // ADB.
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