Afxentiou sworn in as new Finance Minister The new Minister of Finance, Mr Afxentis AtéentiOu, 47 was sworn In: yesterday and he formally took up his: duties, replacing” Mr -Andreas Patsalides who had held the post for the past 11 years Mr Patsalides is to become Governor of the Bank of Cyprus, the lar- gest banking organisa- tion on the island. But as announced by President Kyprianou, he will also serve on the govern- ment’s Economic Adviso- ry Committee and act as adviser to the Central Pianning Commission. President Kyprianou praised Mr Patsalides contribution to the “im- pressive recovery” of the economy, especially since the 1974 war. He said: “Throughout his long service, Mr Patsal- ides was distinguished for his devotion to duty, a deep sense of responsi- bility, unselfishness anda persistent effort to serve the people”. Vacuum He said his departure left a big vacuum but he was certain that the new Minister had the neces- sary experience and background to do fine job as well. Mr Afxentiou, edu- cated in Greece, the Unit- ed States and Britain, entered the civil service in 1962. He became Director-General of the Finance Ministry in 1973 but for a spell this year he worked as Managing Di- rector of a large company in Athens controlled by Cypriot interests. His wife died five ye- ars ago and he has two children, Costas 21, and Maria 20. On arrival at the Min- istry yesterday, he was given a warm welcome by the staff while the Head of the Planning Bureau. Dr lacovos Aristidou, as- sured him that he would have everyone’s coopera- tion, support and good- will. Mr Andreas Patsalides (left) welcomes the new Finance Minister Mr Afxentis Afxentiou at the Ministry yesterday.