Italy to propose central bank governor on Friday: government source

ROME (Reuters) – Prime Minister Paolo Gentiloni’s government will propose its candidate for Bank of Italy governor at a Cabinet meeting on Friday, a government source said on Monday.

The ruling Democratic Party, led by former prime minister Matteo Renzi, has criticized current governor Ignazio Visco, whose six-year mandate is up for renewal at the end of the month.

The source denied reports in two Italian newspapers on Monday saying the government would propose a name early this week.

After consulting with the Bank of Italy’s supervisory board, the government proposes a name to President Sergio Mattarella, whose job it is to name the central bank chief. Mattarella favors renewing Visco’s mandate, government sources have told Reuters.

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