Finance Minister Haddad Proposes Guilherme Mello for Central Bank Board Position

Fernando Haddad, Brazil's Minister of Finance, has proposed Guilherme Mello, the Secretary of Economic Policy, for a directorship role on the Central Bank of Brazil's board. The proposal was presented to President Luiz Inácio Lula da Silva during a lunch meeting on January 14, where economic and political discussions took place. Mello, who currently heads the Economic Policy Secretariat responsible for official inflation, growth, and fiscal projections, is recognized for his technical expertise and strong academic background, holding a degree in economics from the University of Campinas (Unicamp).

Two director positions on the Central Bank board have been vacant since the end of the previous year, and Haddad's suggestion is seen as a strategic move to place a trusted and capable figure in a key monetary policy role. This appointment is expected to enhance coordination between the Finance Ministry and the Central Bank, potentially aligning fiscal and monetary policies more closely.

If President Lula confirms Mello's nomination, it will subsequently require approval from the Senate before becoming official. Haddad previously supported other candidates from the Finance Ministry for the Central Bank, such as Gabriel Galípolo, who was appointed president of the Central Bank. Haddad has also publicly praised Mello for his accurate economic forecasts, underscoring his confidence in the candidate's abilities.