Commission approves Galípolo and Aquino for the Central Bank; plenary votes until the evening

The Economic Affairs Committee (CAE) of the Senate approved, this Tuesday morning (4), the names of Gabriel Galípolo and Ailton Aquino for two directorates of the Central Bank. The economist and the lawyer, respectively, were appointed by the government to the institution.

Galípolo is the government’s main bet for the body, nominated for the monetary policy directorate, and is already seen behind the scenes as Roberto Campos Neto’s successor in the BC presidency. The economist was the executive secretary of the Ministry of Finance, known as “number 2” in the portfolio.

The government hopes that Galípolo will influence the decisions of the Monetary Policy Committee (Copom) to lower the basic interest rate, which is currently at 13.75% and the target of constant criticism from President Luiz Inácio Lula da Silva (PT), from other members government and sectors of civil society.

Ailton Aquino has been a career civil servant at the Central Bank since 1998 and was appointed to the supervisory board. He had the favorable votes of 24 senators, while Gallípolo had 23 in favor and two against.

After the approval of the CAE, the names of Galípolo and Aquino must be appreciated in the plenary of the Senate until the evening, and they will be effective in the positions if they obtain at least 41 favorable votes. The mandates are valid for four years with the possibility of reappointment for the same period.