The Senate Economic Affairs Committee (CAE) approved, this Tuesday morning (10), three new directors of the Central Bank (BC). The nominations were forwarded to the House plenary, which is expected to vote on the names today.
The appointment of Nilton José Schneider to the Monetary Policy Directorate was approved by 22 votes to 5. He will occupy the position that currently belongs to the future president of the BC, Gabriel Galípolo.
Nominated for the Relationship, Citizenship and Conduct Supervision Directorate, Izabela Moreira Correa (MSF 59/2024) was approved by 24 votes to 3. Appointed for the Regulation Directorate, Gilneu Astolfi Vivan obtained 23 votes in favor and 4 against.
Before approval, the three were questioned by the CAE and committed to controlling inflation. For Nilton Schneider, the world is experiencing “a challenging moment”, which requires the Brazilian Central Bank to “pay close attention to economic policy”.
Regarding a possible intervention by the BC in the exchange rate, Schneider acknowledged that international reserves “form the first line of defense” for Brazil, but said that an intervention would have no long-term effects. “I have no doubt that the Central Bank’s intervention temporarily changes the exchange rate, but my experience shows that it is only ephemeral”, declared Schneider regarding the possibility of selling international reserves to reduce the dollar’s price.
The appointment of the three directors was announced on the 29th. If approved by the plenary, they will take office on January 1st.
According to the Central Bank, Nilton David, head of Treasury Operations at Bradesco, has extensive experience in the financial market, having worked in several institutions in Brazil and abroad. The appointed director has a degree in production engineering from the Polytechnic Engineering School of the University of São Paulo (USP).
Current Secretary of Public Integrity at the Comptroller General of the Union (CGU), Izabela Correa will replace director Carolina de Assis Barros, whose term ends at the end of the year. A Central Bank employee since 2006, Correa was a postdoctoral researcher at the School of Government at the University of Oxford and has a doctorate in government from the London School of Economics and Political Science, completed in 2017. She graduated in public administration from the Foundation School of Government João Pinheiro, has a master’s degree in political science from the Federal University of Minas Gerais (UFMG).
Gilneu Vivan will replace director Otávio Damaso, whose term also ends at the end of 2024. A career servant at the Central Bank since 1994, Vivan is currently head of the Financial System Regulation Department (Denor) of the financial institution. Until the beginning of this year, he served as head of the National Financial System Monitoring Department. He also represented Brazil in international groups, such as the Vulnerability Analytical Group, of the Financial Stability Council, a body of the G20 (group of the 19 largest economies on the planet, plus the European Union and the African Union), responsible for assessing threats to the global financial system. .
*With information from Agência Senado
