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Alexander Demarco occupies the role of Governor since 1 January 2026. He is a member of the Governing Council of the European Central Bank, Governor for Malta at the International Monetary Fund, and Malta’s Alternate Governor for the World Bank.
Previously he occupied the role of Deputy Governor of the Central Bank of Malta since 1 January 2014, initially responsible for Financial Stability, and between August 2017 and December 2025 was responsible for Monetary Policy, where he acted as alternate to the Governor in the Monetary Policy Governing Council meetings of the European Central Bank (ECB). During his term as Deputy Governor responsible for Monetary Policy, he was 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 a member of the European Union's Economic and Financial Committee. He was appointed Acting Governor between 1 August 2024 and 31 July 2025, where he was also Chair of the Joint Financial Stability Board, which he now occupies as Governor. 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 and prior to that Head of the EU and International Relations Department. He joined the Bank in 1984 and for most of his career worked in the Bank's Economic Research Department as a senior economist. 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 graduated with distinction from the University of Warwick, UK, with a Master of Science in Economics, specialising in International Monetary Economics and International Trade.
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Photo: Melvin Bugeja/Central Bank of Malta
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