BCV: Salary increase is to correct “internal dysfunction” in the remuneration system – Olavo Correia

City of Praia, September 25th (Inforpress) – The deputy prime minister clarified today that the salary increase for the governor and administrators of the BCV goes towards correcting an “internal dysfunction” at the level of the remuneration system and following a proposal from the Commission of Institution salaries.

At a press conference in Praia, Olavo Correia said that the Remuneration Committee annually analyses the internal context of the institution and that, as a result, it has made this proposal to the Council of Ministers for a salary adjustment of around 17 per cent (%) of the salaries of the governor and administrators of Banco de Cabo Verde (BCV).

“In this specific case, the remuneration of BCV’s board of directors had not been updated since 2019 and, taking into account existing internal remuneration issues, the Remuneration Committee analysed the context in order to avoid imbalances, mismatches and dysfunctionalities,” he explained.

The Remuneration Committee is made up of a member of the government, the chairman of the BCV’s supervisory board, appointed under the organic law, and another member appointed by the institution itself.



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