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Saeima appoints Andris Vilks to the Bank of Latvia council
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    Saeima appoints Andris Vilks to the Bank of Latvia council

    RIGA, Oct 1 (LETA) - Saeima today appointed Andris Vilks, a representative of the European Investment Bank's management team and former Minister of Finance, as a member of the Governing Council of the Bank of Latvia.

    Vilks' candidacy was put forward by Bank of Latvia President Martins Kazaks.

    45 MPs supported Vilks' candidacy, while 21 voted against and six abstained.

    After the vote, Kazaks thanked the parliament for its decision to appoint Vilks to the Bank of Latvia's Governing Council.

    He noted that this decision will strengthen the central bank's management team at a significant time when structural changes are being implemented at the Bank of Latvia, including improving efficiency and capacity, reviewing the governance model and moving towards single-level governance, as well as preparing for possible integration of the Financial and Capital Market Commission.

    "Vilks will significantly strengthen the capacity and competence of the Bank of Latvia's Governing Council, including in macroeconomic analysis in cooperation with international institutions and in the successful management of the institution in times of change," said Kazaks, adding that Vilks is an outstanding professional with extensive experience in both the public and private sectors, and also in high-level work in international financial institutions. He added that Vilks is internationally respected and recognized and has excellent knowledge of economics, finance and financial market policy-making.

    Vilks will begin work on the council on November 16.

    • Published: 01.10.2020 16:11
    • Anastasija Tetarenko, LETA
    • © The given news may not be republished in any way or amount, or otherwise used by the mass media or Internet websites, without written permission of LETA. If this provision is not observed, the matter will be taken to court pursuant to the laws and regulations of the Republic of Latvia.
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