In a quick vote, the Senate plenary approved, late this Tuesday afternoon (10), the three new directors of the Central Bank (BC) who will take office in January. With approval, they will be able to participate in the next meeting of the Monetary Policy Committee (Copom), on January 28th and 29th.
The appointment of Nilton José Schneider to the Monetary Policy Directorate was approved by 50 votes to 3. 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 was approved by 48 votes to 3. Appointed for the Regulation Directorate, Gilneu Astolfi Vivan obtained 53 votes in favor and 3 against.
In the morning, all three had been approved by the Senate Economic Affairs Committee (CAE). Before approval, they were jointly examined 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, the future director acknowledged that international reserves “form Brazil’s first line of defense”, 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 a possible sale of international reserves to reduce the value of the dollar.
History
Head of Treasury Operations at Bradesco, Nilton David, informed the Central Bank, 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. Serving at the Central Bank since 2006, Correa was a postdoctoral researcher at the School of Government at the University of Oxford and has a PhD in Government from London School of Economics and Political Sciencecompleted in 2017. Graduated in Public Administration from the João Pinheiro Foundation School of Government, she 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 2024, 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
