Alexander Demarco has been appointed as Governor of the Central Bank of Malta for a period of five years, with effect from tomorrow, 1st January 2026, by the President of Malta, acting on the advice of the Cabinet of Ministers.
Mr Demarco has served as Deputy Governor of the Central Bank of Malta since 1st January 2014, initially responsible for Financial Stability, where he was also a member of the European Central Bank’s (ECB) Supervisory Board of the Single Supervisory Mechanism.
Since August 2017 he was assigned the role of Deputy Governor responsible for Monetary Policy. In this role, he accompanies and acts as alternate to the Governor at the Monetary Policy Governing Council meetings of the ECB.
Between 1st August 2024 and 31st July 2025, Mr Demarco served as Acting Governor of the Bank, participating as a voting member of the ECB’s Governing Council. During this period he also chaired the Joint Financial Stability Board.
Previously, Mr Demarco held the post of Head of the Financial Stability Department. He joined the Central Bank of Malta in 1984 and spent most of his career in the Economic Research Department, where he worked as a senior economist before being appointed Head of the EU and International Relations Department. During his tenure, he played a key role in the development of the Bank’s first econometric model and was responsible for the Bank’s macroeconomic projections.
He was actively involved in Malta’s preparations and negotiations for EU membership, as well as in exchange rate policy considerations related to Malta’s participation in ERM II prior to joining the Eurosystem. Mr Demarco has also published several articles in the Bank’s publications.
He graduated B.A. (Hons) in Economics from the University of Malta and graduated with distinction from the University of Warwick, UK, with a Master of science in Economics, specialising in International Monetary Economics and International Trade.
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