Insider Economy New Central Bank governor in pledge to safeguard financial stability

New Central Bank governor in pledge to safeguard financial stability

Although there has a been a significant drop in non-performing loans, levels remain too high and constitute a challenge that must be tackled, President Nicos Anastasiades said on Tuesday.

He was speaking at the official appointment ceremony of new Central Bank governor Constantinos Herodotou at the Presidential Palace.

Moreover, though prudent and effective supervision over credit institutions, the Central Bank has the basic responsibility to safeguard financial stability, acting in line with the guidelines and directives of the Europeab Central Bank, the president said.

Herodotou, who succeeds Chrystalla Georghadji at the helm of the Central Bank, said he was fully cognisant of the responsibilities he is undertaking and assured that his main concern was to safeguard financial stability.

He pledged to always act within the framework of the laws and regulations of the Central Bank as well as good governance to continually enhance the reputation of the bank, maintaining it at high levels both at home and abroad.

As regards participation in European and international bodies, he assured that this will always be preceded by good and careful preparation.

“The basic aim in all these contacts is to safeguard financial stability of the country and to contribute to the formulation of the economic and monetary policy of the Eurozone,” he said.

“My aim and objective is to always bring  value and honour to the position to which you appointed me and not to draw from it,” he added.

Read more

https://in-cyprus.com/c-herodotou-profile-of-the-new-central-bank-governor/

 

Top Stories

She caused an accident under the influence of drugs and alcohol

A 39 year old woman was arrested after she caused an accident last night in a Nicosia area and was found to be intoxicated...

Drop in new covid cases and hospitalised, 202 and one death

  Cyprus recorded one covid-19 death over the past 24 hours, raising the number of victims to 167, 111 men and 56 women with an...

Rapid test locations on Sunday

  Here are the rapid test locations for Sunday January 17 Limassol Tassos Papadopoulos Building-Technical University Limassol (corner of Ifigeneias and Themidos) 8.30-04.30 Ayia Varvara Church Zakaki 9.00-04.30 Ayios Stylianos Church,...

Low visibility on highways as bad weather continues

  Visibility is very low on the Larnaca-Nicosia and Nicosia-Limassol highways, with the network near the Mosfiloti area becoming waterlogged. Police are calling on drivers to...

Explainer: Can Trump pardon himself? Would the courts reject the move?

  As he prepares to end a tumultuous four years as U.S. president facing potential legal jeopardy, Donald Trump has discussed the possibility of pardoning...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...