Brazil’s president selects ally for central bank board
Lula has repeatedly attacked central bank independence as well as the governor
Brazil’s president Luiz Inácio Lula da Silva selected a political ally as a member of the board of the Central Bank of Brazil (BCB).
On May 8, finance minister Fernando Haddad told reporters that deputy finance minister Gabriel Galipolo has been picked as the new monetary policy director. Additionally, Ailton Aquino dos Santos, a long-term central bank staff member, has been chosen as director of supervision. Both nominees need the approval of the Senate to be formally appointed.
Haddad
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