Malta’s National Audit Office will, for the first time ever, be represented on the Auditors Board of the European Stability Mechanism (ESM).
The nomination of the NAO’s Deputy Auditor General, Noel Camilleri, to represent the Office on the Auditors Board was duly approved by the ESM and Mr Camilleri was formally appointed to this prestigious post.
“Considering his previous extensive experience as Accountant General, as well as his former appointment as Malta’s representative on the European Investment Bank (EIB), there was no doubt that he has the right credentials to carry out his new duties on this Auditors Board successfully,” a government statement said.
The ESM was set up as an international financial institution by the member states of the eurozone to help euro area countries in severe financial distress.
It was established on 27th September 2012 to safeguard and provide instant access to financial assistance programmes for eurozone member states that end up in financial difficulty.
The ESM has a maximum lending capacity of €500 billion.