Portugal’s centre-right government has nominated Alvaro Santos Pereira, chief economist at the Organisation for Economic Cooperation and Development, as the next governor of Banco de Portugal. The decision, announced after a cabinet meeting on 24 July, follows the expiry of Mario Centeno’s five-year term on 19 July. Santos Pereira, 53, served as economy minister during the 2011-13 bailout era and would take Portugal’s seat on the European Central Bank’s Governing Council if confirmed. Under Portuguese law, the nominee will appear before parliament for a non-binding hearing before the appointment becomes official. Centeno, a former Eurogroup president viewed as one of the ECB’s most dovish policymakers, had signalled willingness to serve a second term but faced criticism from the ruling coalition over the bank’s independence. The government said Santos Pereira’s international profile and prior crisis-management experience make him suited to steer monetary policy and safeguard financial stability.