Brazil's political crisis hinders search for central bank board member
Brazil's political crisis is hindering central bank (BCB) president Alexandre Tombini's search for a new board member, according to Exame.
Tombini has to replace Luiz Awazu Pereira, the BCB economic policy director, who will leave his post on October 1 to become deputy general manager of the Banco de Compensações Internacionais. His replacement needs to be endorsed by the senate.
But criticism from lawmakers and other external issues are putting pressure on Tombini to restrict his search to current BCB staff as opposed to the entire financial market.
"There are politicians who don't think it's time to have someone from the market in the central bank," former BCB director Carlos Thadeu de Freitas Gomes told Exame. "The market and politics don't necessarily complement each other."
Three names have been mentioned in government circles as possible replacements for Awazu, all of whom have worked for the government for at least 14 years: Wagner Guerra, chief of staff for the director of international affairs; André Minella, who has worked for the finance ministry and is currently Tombini's economic adviser; and Márcio Barreira de Ayrosa, executive secretary of the bank.
The BCB declined to comment.
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