The level of non-performing loans (NPL), although significantly reduced, remains high and is a challenge that must be faced, President Nicos Anastasiades said recently.
The president was speaking at a swearing-in ceremony for new Central Bank Governor Constantinos Herodotou.
Anastasiades praised Herodotou’s academic training, his multifaceted scientific competence and added: “By taking on this highly honoured office of one of the leading institutions in our country, you are charged with a huge responsibility.”
Herodotou stressed that he was fully aware of the very high burden of responsibility he was undertaking, underlining that the main concern would be to preserve the country’s financial stability.
“My purpose and goal will always be to add prestige, value and honour to the position to which you are appointing me,” he said.
Herodotou is replacing Chrystalla Georghadji.
Source: Cyprus Mail
