Economist João António Pinto Coelho Serra will be the new Governor of the Bank of Cape Verde (BCV), the country’s Prime Minister José Maria Neves confirmed at a press conference, according to local media.

Mr Serra is an economist and has served previously as Minister of Finance and Public Administration. He was also chairman of the board of directors of the Tourism Development Corporation of Boa Vista and Maio Islands, in Cape Verde.

The Prime Minister said Mr Serra’s nomination would be able to generate greater consensus on policy. Mr Neves also showed confidence that Mr Serra has the skills and knowledge to lead the BCV.

“Once the parliamentary hearing is completed, João Serra will be appointed as the new Governor of the Bank of Cape Verde,” the Prime Minister said.

Mr Neves said the situation at BCV “is stable”, and that beyond the difficulties the central bank felt because of the international financial crisis “there is no crisis” within the institution.