Mugur Isarescu close to securing another 5-year term at the head of Romania’s central bank

Mugur Isarescu, currently the longest serving central bank governor in the world, is close to secure another 5-year term at the head of Romania’s central bank as it won the support of the ruling governing alliance, according to political sources.

Isarescu, aged 70, is ending in October 2019 his current 5-year term at the head of the central bank and it is was not clear so far if he will run for another term.

In March, PM Viorica Dancila’s former economic advisor, Darius Valcov, said that he wants the National Bank of Romania’s new leadership team to be “patriotic”, suggesting that BNR governor Mugur Isarescu would end his tenure once his current term expires later this year.

But Valcov, a protégé of the former PSD leader Liviu Dragnea, lost his job just days after Dragnea was jailed at the end of May, when he was convicted for abuse in office.

The governing alliance PSD-ALDE decided to support Isarescu for another term at the central bank as it has no suitable candidate for the top position.