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Government re-appoints Carlos Costa as Bank of Portugal governor

Government re-appoints Carlos Costa as Bank of Portugal governor

LISBON: Portugal’s right-of-centre government has approved the appointment of Carlos Costa for a second five-year term as governor of the Bank of Portugal.

At a news conference after the day’s cabinet meeting, the cabinet office minister, Luís Marques Guedes, noted that the appointment followed hearings in parliament and the report that resulted from that. Costa was first appointed the bank’s governor in 2010, by the then Socialist government, and took up the position on 7 June that year.

His re-appointment is not consensual, with some opposition deputies and others accusing him in particular of being less than impressive in his handling of the crisis that led to the collapse last year of Banco Espírito Santo, then Portugal’s largest non-state bank.