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February 28, 2021

Central Bank governor interested in new mandate

Mugur Isarescu, the Governor of the National Bank of Romania (BNR), has stated for Mediafax that he is interested in a new mandate at the helm of the Central Bank. He has held that position for almost 19 years.

‘Since there is still some time left until I will turn 65 I do not intend to retire’ Isarescu answered when asked if he is interested in holding a new mandate as Governor of the National Bank.

The BNR’s current Council of Administration (CA) was appointed by Parliament at the end of September 2004 back when the legislative also established that the Bank’s leadership mandate to be cut back from 6 to 5 years.

Thus, the mandate of the current CA will expire in less than four months’ time. The new leadership of BNR will be established by Parliament on the basis of proposals forwarded by the parties.

Apart from Mugur Isarescu, the CA decided five years ago also included Florin Georgescu – First Deputy Governor, Cristian Popa – Deputy Governor, Eugen Dijmarescu – Deputy Governor and five members without executive offices: Silviu Cerna, Maria Ene, Agnes Nagy, Napoleon Pop and Virgiliu Stoenescu.

Currently aged 59, Mugur Isarescu became the Governor of BNR in September 1990. He briefly left that position from December 22, 1999 to November 28, 2000, a period during which he was the Prime Minister.

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