Mugur Isărescu, favorite for a new mandate as governor of the National Bank of Romania

The Plenary of the Parliament would appoint today the new management team of the National Bank of Romania, according to the agenda of the joint session of the Chamber of Deputies and the Senate. The mandate of the current management expires on October 11.

According to several political sources cited by the media, Mugur Isărescu, 75 years old, governor of the National Bank since 1990, will most likely remain in office for another term, being unanimously supported by all parliamentary parties. Moreover, Mr. Isărescu recently declared in a press conference that, "if the Parliament asks me to, I will run for a new mandate".

We remind you that in April, Prime Minister Marcel Ciolacu declared that Mugur Isărescu will be politically supported for another mandate in the position of governor. That is why, the political sources quoted by the media say that the PSD will propose Mugur Isărescu for a new term as governor, Leonardo Badea for the position of first vice governor, Florin Georgescu for the position of vice governor and Aura Socol for the position of non-executive member . The same sources claim that the PNL will propose Roberta Anastase, the former head of the Chamber of Deputies, to the BNR's Board of Directors, along with the current presidential adviser Cosmin Marinescu (for the post of vice governor) and the former Minister of Finance, Alexandru Nazare. The mandates of some of the current non-executive members of the BNR Board of Directors, such as Cristian Popa and Csaba Balint, will probably be renewed.

The legal procedure for appointing the heads of the BNR (the 9 members of the Board of Directors) is regulated by article 33 of Law 312/2004: the members of the CA of the BNR are appointed by the Parliament, upon the proposal of the permanent specialized commissions of the two Chambers of the Parliament.

The National Bank of Romania will hold a new monetary policy meeting on Friday, October 4. Most likely the decision will be taken by the current Board of Directors.