The President of Malta, acting on the advice of the Prime Minister, has re-appointed Michael C. Bonello as Governor of the Central Bank of Malta for a period of five years with effect from 1 October 2008. Mr Bonello was initially appointed Governor on 1 October 1999.

Mr Bonello has a bachelor’s degree in languages and economics from the University of Malta and an honours degree in Philosophy, Politics and Economics from the University of Oxford, where he pursued his studies as a Rhodes Scholar. He is also a Fellow of the Chartered Institute of Bankers. Previous to his first appointment as Governor in 1999, Mr Bonello was a senior official at the United Nations Conference on Trade and Development (UNCTAD).

Following the recent amendments to the Central Bank of Malta Act, the term of office of the Governor and of the other members of the Board of Directors is five years and is renewable.