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On Thursday, 120 members of the Seimas voted in favor in a secret ballot, two abstained and one vote was damaged.
The head of the central bank is appointed for a period of 5 years. These positions can be held for two consecutive terms.
The term of Vito Vasiliauskas, who heads the Bank of Lithuania for ten years, ends on April 7.
Great expert
President Gitanas Nausėda, who appointed G. Šimkus, described him as an excellent economic and financial expert.
“I believe that with your knowledge and skills you will help the institution to achieve the stability of the financial system and sustainable economic development,” said G. Nausėda earlier in the report.
G. Šimkus graduated from Vilnius University in 2002 with a master’s degree in economics. From 2002 to 2010, G. Šimkus worked at the Bank of Lithuania, initially in the Banking Financial Performance Evaluation Division of the Department of Supervision of Credit Institutions, then in the Financial Stability Division of the Department of Economics.
In 2010-2012, G. Šimkus was an expert on financial stability in the Financial Stability Directorate of the European Central Bank.
On August 25, 2020, G. Nausėda appointed G. Šimkus to the Board of the Bank of Lithuania. In this position, he supervised the activities of the Banking Authority and the Financial Stability Department, and was an alternate member of the General Council of the ECB, the General Board of the European Systemic Risk Board, the Joint Resolution Board and the Resolution Committee of the ABE. .
focus
Speaking before the vote, Seimas Budget and Finance Committee Chairman Mykolas Majauskas said G. Šimkus should focus on the stability of the banking system, increasing competition, financial education and the development of green finance.
“When these priorities were agreed, the vote was carried out by consensus. The committee approved the draft resolution, approving that G. Šimkus should be appointed chairman of the board of the Bank of Lithuania,” he said.
Vytautas Mitalas, a member of Freedom Faction, said that G. Šimkus is competent and has contributed a lot to what is today the Bank of Lithuania.
“In the world, the characteristics that until now have been an integral part of the welfare state, such as income and wealth tests, provide benefits only to those who need them most, social security, benefit payments only to those who have paid a certain part And, payment criteria were only thrown out the window during this pandemic, at least in many parts of the West.
It is clear that more and more we see that we live in a slightly different world, the concepts of public debt and deficit have become almost outdated to repeat and remember, at least for a while. All this field and global events create the expectation that the Bank of Lithuania will need a good brain like never before.
All the more so since these global challenges are complemented by those of quasi-traditional Lithuanians. Competition in the banking sector is still relevant. Access to capital markets needs to be improved. It would be good for us to see a clear plan and suggestions from the Bank of Lithuania in the near future, how this expectation can be met, ”he said.
Ieva Kačinskaitė-Urbonienė, vice chairman of the Labor Party faction, also supported the candidacy of G. Šimkus.
“No one doubts the competence, skills, high qualification of the candidate to fill this position. At the same time, we believe that in addition to these things, leadership in the changes that the Lithuanian people expect is very important.
Above all, stability and sustainability. It is also the development of the domestic capital market, the increase in banking competition, the reduction of fees for related services and the increase in the availability of banking services, especially in the regions, ”he said.
There were no speakers against the candidacy of G. Šimkus at the Seimas session.
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