Appointment of Governor of the Central Bank of Malta

Mr Michael C. Bonello will be appointed Governor of the Central Bank of Malta for a period of two years with effect from 1st October 1999. In accordance with Central Bank legislation, the appointment will be made by the President of Malta acting on the advice of the Prime Minister. Mr Bonello will replace Mr Emmanuel Ellul, whose term of office ends on 30th September 1999.

Mr Bonello is currently a senior official at the United Nations Conference on Trade and Development (UNCTAD). After obtaining a bachelor's degree in languages and economics from the University of Malta in 1965, Mr Bonello pursued his studies as a Rhodes Scholar at the University of Oxford where he took an honours degree in Philosophy, Politics and Economics in 1969. In that same year he joined the Central Bank of Malta as a research assistant and later served as Senior Research Officer from 1971 to 1978. Mr Bonello also served as President of the Malta Branch of the Chartered Institute of Bankers.

In 1978 Mr Bonello left the Bank for the private sector. He held senior management positions and sat on the Councils of the Chamber of Commerce and the Federation of Industry.

In 1983 he joined the Money and Finance Division of UNCTAD as an economist where he served until 1989. Since then Mr Bonello has worked as Advisor in the Office of the Secretary-General, Chief of the Policy Clearance Unit, Senior Economics Affairs Officer in the International Trade Division, and Executive Assistant to the Deputy Secretary General of UNCTAD, a position he is currently occupying.