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Alexander Demarco was appointed Acting Governor of the Central Bank of Malta on 1 August 2024. Previously he occupied the role of Deputy Governor of the Central Bank of Malta since 1 January 2014, initially responsible for Financial Stability and since August 2017 responsible for Monetary Policy, where he accompanied and acted as alternate to the Governor in the Monetary Policy Governing Council meetings of the European Central Bank (ECB). He is currently a member of the ECB's High-Level Task Force on Digital Euro and High-Level Task Force on Climate Change-related Sustainable and Responsible Investments and is a member of the European Union's Economic and Financial Committee. He is also Chair of the Joint Financial Stability Board. Mr Demarco was a member on the Board of Supervisors of the European Banking Authority and Supervisory Board of the European Central Bank until July 2017.
Prior to his appointment of Deputy Governor, he held the post of Head, Financial Stability Department of the Bank. He joined the Bank in 1984 and for most of his career worked in the Bank's Economic Research Department as a senior economist, and subsequently was appointed as Head of the EU and International Relations Department. During his career at the Bank, he was directly involved in the construction of the Bank's first econometric model and responsible for the Bank's macroeconomic projections. He was also actively involved in Malta's EU membership preparations and negotiations, and subsequently in exchange rate policy considerations in connection with the preparations for participation in ERM II prior to Malta's membership in the Eurosystem. He also published a number of articles on the Bank's publications. He graduated B.A. (Hons) in Economics from the University of Malta, and read for his Master's Degree at the University of Warwick, UK, specialising in International Monetary Economics and International Trade.
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