Treasury Chief Criticizes Central Bank Head's Court Appearance

The nation’s treasury secretary reportedly criticized the central bank chairman’s decision to attend judicial proceedings this week, according to statements made at an international economic forum.

Speaking to media outlets on the sidelines of the World Economic Forum in Davos, Switzerland, the finance minister allegedly said it was a “mistake” for the monetary authority’s head to attend oral arguments at the country’s highest court regarding the head of state’s power to remove a central bank governor.

“If you’re trying not to politicize the [central bank], for the [bank] chair to be sitting there trying to put his thumb on the scale is a real mistake,” the treasury secretary reportedly stated, according to local media reports.

However, observers noted the apparent inconsistency in the finance minister’s position, as he himself had attended similar judicial proceedings in recent months. When the top court heard arguments over the leader’s authority to use emergency powers for trade measures, the treasury secretary was reportedly present in the front row alongside other senior officials.

The finance minister had previously told domestic media he wanted a “ringside seat” to the proceedings, according to reports. The head of state had also considered attending but ultimately decided against it to avoid what sources described as potential disruption.

Both the treasury secretary and the nation’s leader have indicated that the outcome of the trade case will be crucial to the administration’s economic agenda, with officials warning that an adverse ruling could create significant fiscal complications and weaken the executive’s negotiating position with trading partners.

The central bank chairman’s court appearance comes amid escalating tensions with the current administration. Last week, the monetary authority’s head issued what observers described as an “extraordinary” public statement after the justice department reportedly sent subpoenas to the central bank regarding a renovation project at its headquarters in the capital.

When asked about his support for central bank independence, the treasury secretary affirmed his commitment, telling international media: “Yes, of course. I talk about it all the time.”

Regarding the ongoing criminal investigation and the administration’s attempts to remove the central bank governor, the finance minister said “there still needs to be accountability,” according to reports.

The governor in question, who has served on the monetary authority’s board since 2022, filed a lawsuit after the head of state attempted to remove her, arguing that the law establishing the central bank allows dismissals only “for cause.” The administration has accused the official of financial misconduct related to documents she allegedly signed before joining the institution. The governor has not been formally charged and denies the allegations.

The country’s highest court ruled that the governor could remain in her position while legal proceedings continue, reflecting the ongoing institutional tensions that have characterized the relationship between the current administration and the nation’s financial regulatory bodies.