{"id":7442,"date":"2024-04-09T12:01:11","date_gmt":"2024-04-09T09:01:11","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=7442"},"modified":"2024-04-09T12:01:11","modified_gmt":"2024-04-09T09:01:11","slug":"christodoulos-patsalides-sworn-in-as-central-bank-governor","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=7442","title":{"rendered":"Christodoulos Patsalides sworn in as Central Bank governor"},"content":{"rendered":"<div><img decoding=\"async\" src=\"http:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/04\/christodoulos-patsalides-sworn-in-as-central-bank-governor.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p><strong>Christodoulos Patsalides was sworn in as Central Bank governor<\/strong> in a ceremony at the presidential palace on Tuesday morning.<\/p>\n<div class=\"cypru-video-ads\" id=\"cypru-142697356\">\n<div id=\"cypru-1978656337\" data-cypru-trackid=\"478051\" data-cypru-trackbid=\"1\" class=\"cypru-target\">\n<div id=\"gpt-ad-9769966087969-0\">\n<\/div>\n<\/div>\n<\/div>\n<p>Patsalides was sworn in by President Nikos Christodoulides and described his appointment as an \u201cextraordinary honour\u201d.<br \/>\nHe promised to fulfil his duties to \u201cthe highest possible extent\u201d.<br \/>\n\u201cThe bank\u2019s reputation depends on the pillars of sustainable development that the government has put in place through surplus budgets, financial stability, and reforms, among other things,\u201d Patsalides said.<br \/>\nChristodoulides said that \u201c<strong>financial stability is a vital factor in promoting sustainable economic development<\/strong> and strengthening the competitiveness of our country\u201d.<br \/>\nThis, he said, must be done \u201cby ensuring our credibility and the trust of both investors and consumers\u201d.<br \/>\nHe added that financial stability is \u201cone of the three pillars of the government\u2019s economic policy, alongside fiscal responsibility and continuous reforms\u201d.<br \/>\nTo this end, he said <strong>his government\u2019s economic policy is \u201calready bearing fruit\u201d<\/strong>, with Cyprus\u2019 credit rating being upgraded by all rating agencies, and macroeconomic performance \u201csignificantly better than the European average\u201d.<br \/>\n\u201cAt the same time, we are moving forward with a plan and timetables for the implementation of the necessary bold reforms in all areas which impact the social and economic live of our country, such as the environment, justice, the beginning of a debate on tax reform, health, and children,\u201d he said.<br \/>\n\u201cThe goal is to strengthen the competitiveness of our economy and carry out successful green and digital transitions, through a human-centred approach to our policies which will substantially upgrade ordinary people\u2019s standard of living.\u201d<br \/>\nHe said these policies will enhance social cohesion, with a focus on the middle class, which throughout the course of history has been <strong>the backbone of the Cypriot economy and society<\/strong>.<br \/>\nHe described the Central Bank as an organisation critical to the financial stability of Cyprus, and, consequently, to economic stability and progress.<br \/>\n\u201cYou are invited to succeed in the extremely complex and difficult task of effective supervision and ensuring financial stability,\u201d \u00a0the president told Patsalides.<br \/>\n\u201cYou are called upon to do so <strong>amid difficult geopolitical developments which have resulted in a rapid increase in interest rates<\/strong> internationally, causing uncertainty and instability at a regional and international level,\u201d he said.<br \/>\nHe also said that Patsalidis will be tasked with forming a \u201cnew corporate governance model\u201d for the bank, and backed him to succeed.<br \/>\nAdditionally, he thanked outgoing governor Constantinos Herodotou for the \u201cimportant work he has done\u201d both at the Central Bank and on the board of directors of the European Central Bank.<br \/>\n\u201cDuring his tenure, among other things, he further armoured our financial system, while he deservedly represented Cyprus in international and European organisations, <strong>upgrading the prestige of the Central Bank and, by extension, the reputation of our country<\/strong>,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fact: Christodoulos Patsalides was sworn in as Central Bank governor by President Nikos Christodoulides.<\/p>\n","protected":false},"author":3,"featured_media":7443,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[4800,1902,4029,4601,5666,1275,5292,1031,5047,2021,3178,3665,3,3818,4985,3395,716,26,203,51,1995,308,250,3330,4823,415,5098,210,658,1649,1823,899,1401,187,3404,582,4179,3331,193,4941,3138,4833,4843,503,3840,3255,5515,5063,65,1770,5667,1065,3912,1681,5265,42],"class_list":["post-7442","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cyprus","tag-appointment","tag-bank","tag-budgets","tag-central-bank","tag-central-bank-governor","tag-ceremony","tag-children","tag-christodoulides","tag-competitiveness","tag-consumers","tag-credit-rating","tag-cypriot-economy","tag-cyprus","tag-development","tag-developments","tag-economic-development","tag-economic-policy","tag-economy","tag-environment","tag-european-central-bank","tag-financial-stability","tag-geopolitical","tag-google","tag-google-news","tag-governance","tag-government","tag-governor","tag-health","tag-history","tag-human-centred","tag-increase","tag-interest","tag-interest-rates","tag-international","tag-investors","tag-justice","tag-middle-class","tag-news","tag-nikos-christodoulides","tag-organisation","tag-performance","tag-policy","tag-president","tag-president-nikos-christodoulides","tag-progress","tag-reforms","tag-responsibility","tag-supervision","tag-surplus","tag-sustainable-development","tag-swearing-in-ceremony","tag-tax","tag-tax-reform","tag-trust","tag-uncertainty","tag-upgrade"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"<!-- 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