The 10-th Reunion of the Governors' Club of the Black Sea Area, the Balkans and Central Asia
10.10.2003
At the NBR, the 10-th Reunion of the Governors' Club of the Black Sea Area, the Balkans and Central Asia
The 10-th reunion of the Governors' Club from the Black Sea area, the Balkans and Central Asia was held in Sinaia on Friday 10 October. It was for the second time that the reunion was held in Romania.
Since 2002, the president of the Governors' Club is Mr. Mugur Isărescu, governor of the National Bank of Romania.
The Governors' Club was established in May 1998 in order to improve co-operation in banking between member countries. The well-functioning of money and forex markets, enhancement of economic and financial co-operation, as well as other items of mutual interest for the participant countries were among the main topics of the reunion.
Ms. Gertrude Tumpel-Gugerell - member of the ECB Executive Committee, Ms. Maria Luisa Cicognani, EBRD director, and Mr. Gavin Bingham - BIS director were the guests at the reunion held in Sinaia.
The discussions brought about a fruitful exchange of information on the political, social and economic situation in the area, on the trends in banking and monetary developments. The role of the central bank in the functioning of the payment systems (the case of the ECB), the institutional architecture in developing the banking system's capacities, as well as the importance of a appropriate communication with the public for the effectiveness of monetary policy were of the highest interest.