Romania to Name New Deputy Central Bank Governor After Elections

  • Social Democratic Party leader says lawmakers need time
  • Parliament must act after corruption probe sank Olteanu

Romania will probably pick a new deputy head of the central bank after Dec. 11 elections as parliament needs time to make the best decision, the leader of the Social Democrats said.

The main parties in the legislature have agreed to delay a decision until after the general ballot so politics and campaigning don’t interfere with the appointment, Liviu Dragnea said Monday in an interview in Bucharest. Bogdan Olteanu, the previous deputy governor, resigned after being detained in a graft probe.

“We want to have time to make the best decision and this decision shouldn’t be influenced by the electoral debates,” Dragnea said. “It’s important that we have a calmer political landscape when we discuss proposals and we hear candidates for the job.”

The board of Romania’s central bank was temporarily reduced to eight members from nine at the start of August as Olteanu was unexpectedly detained for influence-peddling and bribe-taking during his time as parliament speaker in 2008, accusations he denies. The bank kept its benchmark interest rate unchanged for a 10th meeting Aug. 4, with economic growth topping 6 percent and consumer prices still sliding following tax cuts.

“Governor Mugur Isarescu assured us the bank can function very well with eight board members as well,” Dragnea said.

    Before it's here, it's on the Bloomberg Terminal.