Governor Pablo Hernández de Cos concludes productive visit to Cyprus

Wednesday, 7 February 2024



In a significant step towards bolstering economic cooperation within the Eurozone, the Central Bank of Cyprus was honored to host Governor Pablo Hernández de Cos of the Bank of Spain for a series of important meetings and discussions. The visit, following an invitation from Governor Constantinos Herodotou, underscores the shared commitment to enhance collaboration between the two central banks.

During his stay, Governor Hernandez de Cos engaged in fruitful discussions with Governor Herodotou, focusing on economic policy, banking supervision, and strategies to strengthen bilateral cooperation.

In addition to the central bank discussions, Governor Hernandez de Cos had the opportunity to meet with key Cypriot officials, including the President of the House of Representatives, Annita Demetriou; the Minister of Finance, Makis Keravnos; and the President of the Standing Committee on Financial and Budgetary Affairs, Christiana Erotokritou.

An open discussion with stakeholders from the most important sectors of the Cypriot economy allowed for an exchange of insights and perspectives on the state of the real economy. The two Governors’ involvement underscored the importance of engaging with a wide range of sectors to foster a sustainable and inclusive economic future.

Governor Herodotou commented: "It was a great pleasure to host Governor Pablo Hernandez de Cos in Cyprus. Our close relationship at the Governing Council of the European Central Bank has been forged by exchanging views on the Eurozone economy. His visit has significantly strengthened the ties between our central banks and has laid a solid foundation for further future cooperation. I am confident that the discussions held and the relationships fostered during this visit will contribute to our shared goals. We thank Governor Hernandez de Cos for his valuable insights and look forward to our continued collaboration."

Governor Pablo Hernandez de Cos noted: “I am grateful to Governor Herodotou for setting up an agenda that has helped me have a deep and first hand impression of economic developments in Cyprus. This cooperation among national central banks is also key to enhance our collective thinking at the ECB Governing Council. We are now at a crucial moment in the process of bringing inflation back to our 2% medium-term target and special thanks are due to Governor Herodotou for his leadership and his acute understanding of financial and economic dynamics that, in so many occasions, have helped us reach the best monetary policy decision for the benefit of all Euro Area citizens”.

The Central Bank of Cyprus remains committed to fostering strong relationships with the aim to enhance economic stability and prosperity. This visit was another important moment in our ongoing efforts to collaborate more closely with our European partners.