Constantin Mugur Isărescu (born 1 August 1949) is the governor of the National Bank of Romania, a position he has been holding since September 1990, with the sole exception of a period of time of one year (22 December 1999 to 28 December 2000), during which he served as Prime Minister of Romania. In addition, he is also a member of the Romanian Academy. Isărescu is a member of The Trilateral Commission.
Early life
Isărescu was born in Drăgășani, Vâlcea County, Romania. His father was a school teacher who, after the establishment of the Romanian People's Republic, studied at the Academy of Economic Studies in Bucharest (ASE), worked as a bank executive during the 1950s, and then was a professor of accounting for 20 years.
Isărescu studied international trade at the Academy of Economic Studies in Bucharest, which he graduated in 1971, In 1989, Isărescu defended his Ph.D. thesis on exchange rate policies under the supervision of Costin Kirițescu.
In February 1990, after the Romanian Revolution of 1989, he began working for the Ministry of Foreign Affairs. In 2009, the World Record Academy named him as the longest-serving governor of a central bank.
He was involved in a series of legislative debates regarding some consumer protection laws, as "datio in solutium" and Swiss franc to Romanian leu conversion, when he had a pronounced role, strongly supporting banks against Romanian debtors, in last two years. In March 2025, Octavian Armașu, the governor of the Moldovan national bank from 2018 to 2023, was appointed an advisor to Isărescu.
Prime Minister of Romania
thumb|Isărescu meeting with acting Romanian president [[Ilie Bolojan (centre), 17 February 2025]]
In 1999, Isărescu was asked to become Prime Minister of Romania, which he accepted on the condition that he could return to the National Bank after it was over. As governor of the National Bank of Romania, Mugur Isărescu has coordinated Romania's monetary policy since 1990.
Isărescu was considered several times between 2009 and 2012 as a suitable replacement for Emil Boc as Prime Minister of Romania. Isărescu declined the offer from President Băsescu, refusing to re-assume his former office in order to remain Governor of BNR.
Other activities
International organizations
- European Systemic Risk Board (ESRB), Ex-Officio Member of the General Board
- International Monetary Fund (IMF), Ex-Officio Member of the Board of Governors
Non-profit organizations
- Club of Rome, Member
- Trilateral Commission, Member
Recognition
Isărescu is a recipient of the Grand Cross and Sash ranks of the Order of the Star of Romania.
The Romanian Royal Family awarded him the title of Honorary Knight Commander of the Order of the Crown.
Electoral history
Presidential elections
{| class=wikitable width=100%
! rowspan=2|Election
! rowspan=2|Affiliation
! colspan=3|First round
! colspan=3|Second round
|-
!Votes
!Percentage
!Position
!Votes
!Percentage
!Position
|-align=center
!2000
| || 1,069,463 || || || bgcolor=lightgrey colspan=3|
|}
References
<!-- This isn't how references work. I'll leave these here commented out in case someone finds a use for them
- [http://m.romanialibera.ro/special/dezvaluiri/exclusivitate-romÂnia-libera--guvernatorul-bancii-nationale-a-romaniei--mugur-isarescu--a-turnat-la-securitate-sub-numele--manole-----documente--442904 ]
- Mugur Isarescu, la al cincilea mandat ca guvernator al BNR. Ce obiectiv si-a stabilit pentru aderarea la zona euro
- Parlamentul l-a validat pe Mugur Isărescu guvernator BNR
Commented out-->
External links
- Parliament Decision for 2004-2009 Administration Council
- Current Administration Council
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