Hélder Rosalino reappointed at Banco de Portugal with retroactive effect to 2019 – O Jornal Económico
The resolution of the Council of Ministers that applies retroactivity to the renewal of the Bank of Portugal administrator, Hélder Rosalino, in 2019, was published this Friday in Diário da República (DRE).
This means that the director of Banco de Portugal, who in the past was secretary of state in the government led by Pedro Passos Coelho, will only serve for less than three years on the Board led by Mário Centeno.
Although it is in the law that the term of office of Banco de Portugal directors lasts for five years, by making the effects of the appointment go back to 2019, they leave Hélder Rosalino with the mandate of the director of Banco de Portugal until September 2024.
The Council of Ministers decided to “renew, upon proposal by the member of the Government responsible for finance, the appointment of Hélder Manuel Sebastião Rosalino as administrator of the Bank of Portugal, whose reputation, sense of public interest, professional experience, capacity to Management, knowledge and relevant technical competence and adequate to the exercise of the respective functions are evidenced in the respective curriculum note and in the permissions of the reasoned opinion of the Committee on Budget and Finance of the Assembly of the Republic”.
The same document says that the Government has decided “to determine that this resolution takes effect on September 10, 2019”.
The resolution renewing the mandate of the director of Banco de Portugal refers to the fact that Hélder Rosalino was appointed director of Banco de Portugal, with effect from 9th 2014.
“The nominee for the renewal of the mandate was heard at the Budget and Finance Committee of the Assembly of the Republic, on July 7, 2021, which prepared the respective reasoned opinion”, reads the DRE.