Brazil’s Bolsonaro appoints central bank directors to fixed terms

FILE PHOTO: Brazil's Central Bank President Campos  speaks at a media statement in Brasilia
FILE PHOTO: Brazil's Central Bank President Roberto Campos Neto speaks at a media statement announcing economic measures during the coronavirus disease (COVID-19) outbreak in Brasilia, Brazil, March 27, 2020. REUTERS/Ueslei Marcelino

April 20, 2021

BRASILIA (Reuters) – Brazil’s President Jair Bolsonaro on Tuesday appointed central bank chief Roberto Campos Neto and seven directors to fulfill their fixed-term mandates on the monetary authority’s board.

The appointments were published in the Official Gazette, a procedural step after Congress in February approved central bank autonomy that established fixed terms for directors that no longer coincide with the presidential election cycle.

Campos Neto and directors Carolina de Assis Barros and Otavio Ribeiro Damaso will remain in their positions until Dec. 31, 2024, according to the decree.

Directors Fabio Kanczuk and Joao Manoel Pinho de Mello will serve until Dec. 31, 2021, Bruno Serra and Paulo Sergio Neves de Souza will serve until Feb. 28, 2023 and Mauricio Costa de Moura’s term ends on Dec. 31, 2023.

Fernanda Nechio said last month she would step down soon as the central bank’s international affairs and corporate risks director, citing personal reasons. Her replacement, Fernanda Magalhaes Rumenos Guardado, will serve until Dec. 31, 2023 if she is approved by the Senate, the decree said.

(Reporting by Jamie McGeever; Editing by Paul Simao)