New CBC governor vows to strengthen image

The newly-appointed governor of the Central Bank of Cyprus was sworn in on Tuesday during a ceremony at the Presidential Palace, where he spoke of maintaining financial stability as a main task.

Constantinos Herodotou, who was recently named as the successor of outgoing CBC governor Chrystalla Georghadji, addressed an audience during his sworn-in ceremony on Tuesday morning, hosted by President Nicos Anastasiades.

Herodotou said he would spare no effort in working together with the President, the CBC Board of Directors, the European Central Bank, as well as with professional and political agencies, independent state officials and the entire CBC staff.

The newly-appointed governor, who takes over later this week, said the task of maintaining financial stability in the country is an enormous challenge.

“I will always act in accordance with the rules and regulations of the Central Bank, as well as principles for good administration, so that its legitimacy and credibility are constantly reinforced and maintained always at the highest level both overseas and here locally,” Herodotou said.

Herodotou went on to speak on Cyprus’ participation in various agencies around the world and EU bodies, underlining the importance of proper preparation and maintaining cooperation with foreign counterparts both globally and in Europe.

“This is how it will be done, with proper and dutiful groundwork so that we can achieve a valid and dignified representation that would earn us the respect of international and European partners but also a respectable position for our country in these bodies based on these partnerships,” Herodotou said.