Ministry exonerates Gabriel Galípolo to assume position at the Central Bank

The Ministry of Finance confirmed this Tuesday (20) the dismissal of economist Gabriel Galípolo, then executive secretary of the portfolio known as “number 2”, to assume the position of director of monetary policy at the Central Bank. In his place, the former director of public policies for WhatsApp in Brazil, Dario Durigan, takes over, according to the letter published in the Official Gazette (see in full).

Galípolo’s exoneration comes a week before he is questioned by the Senate’s Economic Affairs Committee (CAE) to be able to assume the position in the monetary authority. The economist was appointed by Minister Fernando Haddad to the Central Bank’s board of directors in May for being a “trusted name” in the financial market and to “bring together the BC and Finance teams”, said the minister at the time.

The economist’s name was also a suggestion by the president of the Central Bank, Roberto Campos Neto, to assume the directorate of monetary policy. Campos Neto has been a frequent target of criticism from President Luiz Inácio Lula da Silva (PT) for maintaining the interest rate at 13.75%.

At the time of the nomination, Haddad said that he often meets with Campos Neto to discuss both the Selic issue and the direction of monetary policies. Galípolo will be one of the names to compose, after Senate approval, the Monetary Policy Committee (Copom), responsible for analyzing the economic situation that defines the interest rate for the period.