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Mugur Isarescu has officially got a spot in Guinness Book as the world’s longest-serving governor of a central bank, after starting his career at the helm of National Bank of Romania in 1990,Isarescu has coordinated Romania’s economic policies for 19 years, being considered as the nation’s ‘hidden’ prime minister.
Also, many say the team under Isarescu’s leadership has saved the country from a Bulgarian-type collapse, after raising national gold and euro reserves, slowed down inflation and introduced the new Leu.
The role Isarescu played in the Romanian economy is compared with that of Laszcek Balcerowicz, the man who implemented the reforms in Poland.
Mugur Isarescu is the sole Romanian politician member of Trilateral Commission. He is also member of Club of Rome.
Mugur Isarescu was born on August 1, 1949 at Dragasani, Valcea. He served as prime minister of Romania in December 22, 1999 – November 28, 2000.
Isarescu graduated in 1971 the Faculty of Foreign Trade of the Bucharest Academy of Economic Studies.
After the Romanian Revolution of 1989, he joined the Ministry of Foreign Affairs, and later on he was appointed as commerce representative at Romania’s Embassy from United States of America. Since September 1990 he is serving as the governor of the National Bank of Romania. He took over the leadership of the country’s central bank at a time when NBR’s entire reserve was drained to finance imports.
On July 1, 2005, he introduced the new Leu, after opening capital accounts. He led an active policy in loan interests as well as in banks’ safety.
