EXCLUSIVE: Isarescu Intends To Get A New Mandate As Romanian Ctrl Bk Governor

“As there is still some time until I’ll reach the age of 65, I do not intend to retire,” Isarescu replied when asked if he wants a new mandate as central bank governor.

The current Board of the National Bank of Romania, or BNR, was appointed by the Parliament in September 2004. At that time, the Parliament also decided to reduce the mandate duration of the Board from six to five years. Therefore, the current Board’s mandate will expire in less than four months.

The Board also includes Florin Georgescu, as first deputy governor, Cristian Popa and Eugen Dijmarescu, as deputy governors, and five members without executive functions, namely Silviu Cerna, Maria Ene, Agnes Nagy, Napoleon Pop and Virgiliu Stoenescu.

The new Board of the central bank will be appointed by the Parliament, following the parties’ nominations.

Isarescu, 59, was named in September 1990 to head the BNR. He quit the position only temporarily, between December 1999 and November 2000, when he was appointed Prime Minister.

Isarescu graduated in 1971 the Faculty of International Business and Economics, at the Academy of Economics in Bucharest. He is member of the Romanian Academy since 2006.