INPS auction. Former BCV governor talks about JMN's hypocrisy about central bank autonomy and sends hints to João Serra

Aggressive post by Carlos Burgo, former Governor of the Bank of Cape Verde, attacks the President of the Republic, who says he is incoherent in the position he defends today on the autonomy of the central bank and launches indirect remarks at the Head of State's economic advisor, João Serra, also former Minister of Finance and his successor as governor of the BCV.

Mar 16, 2024 - 14:50
Mar 16, 2024 - 15:00
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INPS auction. Former BCV governor talks about JMN's hypocrisy about central bank autonomy and sends hints to João Serra
INPS auction. Former BCV governor talks about JMN's hypocrisy about central bank autonomy and sends hints to João Serra

“For someone, like me, who went through so much hardship (he paid a high price and even still suffers the consequences of this) just for having defended the autonomy of the central bank, the incoherence (not to mention the hypocrisy!) of the JMN never ceases to be surprising” , Neves' former Finance Minister and later Governor of the Bank of Cape Verde (2004-2014) started writing on his Facebook account.

In his post this afternoon, Burgo, now retired and living on Brava Island, made it clear that, as leader of the central bank, he asked for more autonomy for the BCV, but that José Maria Neves, at the time Prime Minister of Cape Verde, didn't even care . Worse, said the economist from Braga who had to respond on certain occasions to the Minister of Finance and Planning on BCV matters, "with the approval or knowledge" of the then head of Government, JMN.

“If memory serves me correctly, while I was Governor of the BCV, on two occasions, under the guidance (at least with the good pleasure or knowledge) of the then Prime Minister JMN, the Governor and the Administrators of the central bank were summoned…. to report to the Minister of Finance!?!? Without a doubt, Your Excellency is well advised. the President of the Republic! Arre!”, commented Burgo, in an indirect implication to the current PR advisor and his successor at BCV, João Serra.

Carlos Burgo's reaction comes after the President of the Republic considered that the  INPS auction "was not transparent" and that the Government cannot hold, as the Minister of Finance said, a meeting between the BCV, INPS and the Executive itself to articulate positions because this goes against the autonomy and Independence of the Central Bank.

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