Member of Bank of Latvia Council picked to take over as central bank's head

Source: Xinhua| 2019-12-03 21:20:40|Editor: xuxin
Video PlayerClose

RIGA, Dec. 3 (Xinhua) -- Partners in Latvia's center-right government coalition agreed on Tuesday to nominate Martins Kazaks, a member of the Bank of Latvia Council, for the central bank's next head, public television reported.

Ten lawmakers representing all coalition parties signed the document confirming Kazaks' nomination for Bank of Latvia governor. The parliament is expected to vote on the candidate on Dec. 12.

As negotiations on potential candidates dragged on last week, the parliament agreed to postpone the deadline for nomination until Dec. 3, in order to give the coalition more time for choosing the next head of the Latvian central bank.

Initially, there were four contenders considered for Latvia's top banker: Kazaks, Fiscal Discipline Council member Inna Steinbuka, the Financial and Capital Market Commission's (FCMC) former chairman Uldis Cerps and Reinis Berzins, CEO of the Latvia's Development Finance Institution Altum.

Outgoing Bank of Latvia Governor Ilmars Rimsevics' office term expires on Dec. 21.