The Government of Malta announces that Dr Mario Vella is to be appointed Special Commissioner for Economic, Financial and Trade Relations with the United Kingdom.
This in view of the fact that, on 1st January 2021, the transitional period of Brexit will come to an end. New regulations will come into force in different sectors which will have a significant impact on our country.
Following approval by the European Central Bank for this appointment, Dr Vella will resign as Governor of the Central Bank with effect from 31st December 2020.
As a result of this decision, the Government is proposing to the European Central Bank that Professor Edward Scicluna be appointed Governor of the Central Bank of Malta.
In order to be able to start this process, Prof Scicluna will resign as Minister of Finance in the coming days, and as a member of the Maltese Parliament by the end of the year.
The Government thanks Minister Scicluna for his impeccable work as Minister for Finance over the past seven years, moving from a situation of an excessive deficit procedure before 2013 to the best European economy. His leadership of the country’s finances was instrumental to the presentation of successful budgets which created and distributed wealth and changed for the better the lives of thousands of Maltese and Gozitan families.
The Government also thanks Dr Mario Vella for the important work he has done as Governor of the Central Bank of Malta, providing strategic direction for this crucial institution of our country.
The Government congratulates Professor Edward Scicluna and Dr Mario Vella on their new roles and looks forward to their further contributions to benefit Malta and Gozo.