The Governor of the Central Bank of Cyprus (CBC), Mr. Constantinos Herodotou, participated as a keynote speaker at the 2023 ICPAC Mediterranean Finance Summit, which was held today, 18th of May 2023, in Limassol.
In particular, Mr. Herodotou elaborated on the developments in the ECB's monetary policy to tackle the ongoing inflationary pressures. He also analysed the main developments in the Cypriot banking sector as well as the main challenges the sector is facing. Among others, he referred to the need for further reduction of non-performing loans and addressing the climate risks and structural weaknesses in order to build a sustainable business model. He also went through the main projects and initiatives of the CBC to assist the banking sector and the economy to face these challenges.
Please click here for the Governor's speech.