Monetary Operations and Payments System
Zsolt Érsek holds a Bachelors Degree in Macroeconomics and a Masters degree in Finance from the University of Economics in Budapest, Hungary. He is a Chartered Financial Analyst (CFA) and a regular lecturer on various financial market issues. He began his career at the Hungarian central bank where he worked for over 25 years in various capacities. He started as foreign exchange dealer and continued as a foreign reserves portfolio manager. He was the Head of the Open Market Operations Department of the central bank for almost 15 years, responsible for monetary policy operations, foreign exchange interventions and reserve management activities. He also represented the central bank of Hungary in the Market Operations Committee of the European Central Bank and worked very closely with the local banking sector by being the Board member of the ACI Hungarian Forex Club. Apart from regular publication of articles in local periodicals, he is the author of a handbook about foreign exchange markets.
Zsolt has a wide experience in delivering TA to central banks. In the last 10 years he participated in close to 20 short term missions to Macedonia, Nigeria, Tajikistan, Sierra Leone, Serbia, Honduras, Cape Verde, Myanmar and Kazakhstan in the field of improving monetary operations, developing foreign exchange markets and the reserve management functions. Before joining AFRITAC West 2, he was a resident long term expert in Bank of Ghana (BoG) for 2 years. With his guidance, BOG fully renewed its monetary policy toolkit, improved its financial market analyses and enhanced its banking sector liquidity management activities.