Isarescu to receive new term at helm of Romanian central bank

This autumn, the Romanian Parliament is due to elect the
members of the new Board of Governors of the NBR (National Bank of
Romania), Romania’s leading economic institution. The five-year
term of the NBR Board runs out on October 10. There is a lot at
stake, considering the huge impact that the institution has on the
progression of the economy. Current governor Mugur Isarescu will
continue his mandate as a governor, which he has held since 1990,
while his second-in-command, Florin Georgescu (PSD – the ruling
Social Democratic Party) will keep his mandate as a first deputy
governor. Vasile Blaga, secretary general of the PD-L (the ruling
Democratic Liberal Party), told ZF on Tuesday that the party would
support current governor Mugur Isarescu for a new mandate and that
PD-L would propose Cristian Popa for a renewed term as deputy
governor. PD-L is entitled to three proposals to the Board of
Governors, like PSD, whilst opposition parties PNL (National
Liberal Party) and UDMR (Democratic Alliance of Hungarians in
Romania) will propose one member each.