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On Tuesday, the President of the Republic of Lithuania, Gitanas Nausėda, in accordance with the Constitution and the Law of the Bank of Lithuania, signed a decree presenting to the Seimas the appointment of Gediminas Šimkai as chairman of the board of directors of the Bank of Lithuania. for a period of five years.
“G.Šimkus is an excellent economic and financial expert with many years of experience working for the Bank of Lithuania. 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, ”the press release quoted the head of the country.
If the Seimas approves this candidacy, G. Šimkus would replace Vita Vasiliauskas, who has been Chairman of the Board of the Bank of Lithuania for two terms. The mandate of V. Vasiliauskas ends on April 7.
Photo by Lukas Balandis / 15min / Vitas Vasiliauskas
At the middle of March 15 minutes wrote that less than a month ago, President G. Nausėda had not officially or unofficially presented any candidate to the members of the Seimas or to the employees of the Bank of Lithuania.
The new governor of the Bank of Lithuania must be nominated by the president, who is appointed by the Seimas for a period of five years.
It is true that a few days later, the members of the Seimas heard two names from the Presidential Palace: G. Šimkus and G. Nausėda’s adviser, Simonas Krėpšta, about whom the president had mentioned earlier to the media.
Photo by Julius Kalinskas / 15min / Simonas Krėpšta
The bank has been in business for eighteen years
Gediminas Šimkus, who graduated in economics, started working at the Bank of Lithuania in 2002.
From 2002 to 2010 G. Šimkus worked at the Bank of Lithuania, first 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.
Photo by Bank of Lithuania / Gediminas Šimkus
2010-2012 G. Šimkus was an expert in financial stability in the Directorate of Financial Stability of the European Central Bank (ECB). returned to the Bank of Lithuania in 2014. He worked as director of the Economic and Financial Stability Service, represented the Bank of Lithuania in the Advisory Committee of the European Systemic Risk Board and in the Financial Stability Committee of the ECB.
2020 August 25 The president appointed G. Šimkus to the board of directors of the Bank of Lithuania. In this role, he supervised 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 EBA Resolution Committee ( ResCo). .
M.Majauskas: It is important to assess how the volume of loans to small businesses will increase
The members of the Seimas interviewed positively value the candidate for the post of Governor of the Bank of Lithuania.
Chairman of the Budget and Finance Committee of Seimas Mykolas Majauskas 15 minutes He stated that G.Šimkus was a professional diplomat and a responsible person.
“Before making a decision, it will be important to assess what measures the proposed candidate plans to reduce the monopoly of Scandinavian banks, how it will increase the volume of loans to small businesses and how it will guarantee the lowest prices of banking services for consumers. “. “said M. Majauskas.
Photo by Sigismund Gedvila / 15min / Mykolas Majauskas
A. Butkevičius poses two tasks
Member of the Seimas BFK, Algirdas Butkevičius, belonging to the Mixed Group of Members of the Seimas 15 minutes He said that the president had chosen the appropriate candidacy.
“I welcome this candidate. While serving as a member of the Board of Directors of the Bank of Lithuania, as a specialist, he has very good managerial qualities, he is able to communicate both with politicians and to debate at international or national conferences. No he is afraid to express his opinion also to politicians ”, characterized A. Butkevičius to the candidate.
It sets two tasks for the new director of the Bank of Lithuania: first, to propose a more rational use of the huge resources of commercial banks, accumulated deposits, and to actively express his opinion on fiscal policy.
“In my opinion, during this so-called economic crisis, the cooperation between the government and commercial banks was too weak. And V. Vasiliauskas should be given a more solid task on how to use the largest deposits in commercial banks, both people legal entities as natural persons. Such a reserve did not exist after the restoration of independence, and this is a certain sign “, thinks A. Butkevičius.
Erik Ovcharenko / 15min photo / Algirdas Butkevičius
He believes the previous government could have borrowed less on its own, but provided 100 percent guarantees to companies that borrow from commercial banks.
The second task that A. Butkevičius poses to the new governor of the Bank of Lithuania, the European Commission when the Stability and Growth Pact returns to the application of the fiscal discipline rules (an exception for the period 2020-2022), is to actively participate in expressing your opinion on when and how to start reducing the budget deficit.
Meanwhile, Vytautas Gapšys, a “worker”, told BNS that in the next conversation with G. Šimkus, the faction would not only explain how it views ALC activities, changes in the system, but also ask for an opinion on account liberalization on the rise. House prices and market surveillance will also want to hear your views on international trends, the emergence of the digital euro.
“I have no bad signs that the candidate will be unable to work,” the “employee” told BNS.
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