Alberto Fernandez and Sergio Massa
Economy Minister Sergio Massa wanted Lisandro Cleri as vice president of the Central Bank. At least this was revealed weeks ago by the Minister of Economy. Not only has the appointment not materialized in all this time, but the decision of President Alberto Fernández – who must sign the decree – has been postponed, official sources confirmed and aware of the negotiation.
Massa’s idea (that Cleri manage the bank’s cash desk) is known from Martín Guzmán’s proposal to the President at the end of June: a few days before his resignation, the economist asked Fernández as a condition for remaining in office that a man his will controlled the change in tariff policy. It didn’t happen and Guzmán resigned.
Good news for Massa now is that Cleri could be close to being appointed bank manager. Arnaldo Bocco resigned from that position on Wednesday. There is a place for Cleri.
The bad news (for Massa) is that if Cleri occupied that chair, he would enter the board of directors but not the vice-presidency, currently held by Sergio Woyecheszen, Agustín Rossi’s son-in-law.
The Central Bank has two Vice Presidents. The first deputy, Woyecheszen, is appointed by the President by decree. The second vice president, now the economist Jorge Carrera, is elected by the members of the board of directors. The only attribution of this latter office is to call a meeting of the board in the event that neither the president nor his vice-president are present. Massa wants the first vice.
How then could a man of Massa (Cleri) reach that position?
Woyecheszen’s office expires on 23 September (they have been placet for six years and expire in a month). Cleri could enter there.
Almost a month and a half passed without Massa being able to control the money table. Guzmán left partly because of this. For the moment, the economy minister has failed to persuade a market economist to accept his proposal as a deputy minister.
The board of directors of the Central Bank is made up of 10 members whose mandates last 6 years and are renewed by half. Four of its current members have mandates that expire on September 23, 2025, including the resigning Bocco, but also the second vice-president Carrera, who took office at the hands of Martín Guzmán (both professors of the UNLP).
In 2025 the mandates of Pablo Carreras Meyer, replacing Diego Bastourre, and Agustín D’Attellis, replacing Guillermo Hang also expire.
For their part, the positions of Woyecheszen and the directors Zenón Biasgosch, Claudia Berger, Betina Stein and the Superintendent of Financial and Exchange Entities, Claudio Golonbek, all expire on 23 September. There, too, the mandate of Miguel Pesce expires (thus completing the mandate started by Federico Sturzenegger in November 2016 and for which Luis Caputo and Guido Sandleris also passed).
Another candidate to join, in place of Cleri or Woycheszen, is Eduardo Hecker, former president of Banco Nación. The economist would have the approval of the president and Sergio Palazzo, secretary of the banking association and deputy of the FdT. At Casa Rosada they ensure that there will be room for him.
The initial appointment of the president of the BCRA, its vice president or a director is done by decree. But 100% confirmation occurs when there is an agreement from the Senate.
The delay of the appointment in the Central Bank of Cleri is delayed, they admit in their own banking institution. It should be remembered that when Julián Domínguez took office as Minister of Agriculture, it took the Casa Rosada four months to issue the decree appointing its Deputy Minister and Secretary of Agriculture Matías Lestani.
Ezechiele Burgo
Source: Clarin
