Berzins might become the next Bank of Latvia Governor with opposition's support

RIGA - Reinis Berzins, Chair of the Board of Development Institution Altum (Altum), might become the next Governor of the Bank of Latvia with the support of opposition lawmakers, according to LETA's estimates.

Three candidates have been nominated for the post of Bank of Latvia Governor: the Progressives and New Unity have nominated Martins Kazaks, the current head of the Latvian central bank, the Union of Greens and Farmers has nominated Berzins, and Stability has nominated Pavels Kuzmins, describing him as an experienced financier.

Some MPs of the opposition United List and the National Alliance have also endorsed Berzins' nomination.

Greens/Farmers have 16 votes in the Saeima and are supported by MP Olegs Burovs (GKR), which means that Berzins can count on at least 17 votes.

Unofficial information suggests that the United List and the National Alliance will also vote for Berzins, which means that he could received 43 votes.

LETA has also learned that the opposition Latvia First will not vote for Kazaks. At the same time, Berzins' wife Julija Berzina is the manager of Latvian First leader Ainars Slesers' family business.

New Unity has 25 votes in the Saeima and could be supported by independent MP Igors Rajevs, who together with the Progressives' nine votes would make up 35 votes for Kazaks.

Berzins told LETA that so far he has met with Greens/Farmers, the National Alliance and the United List, negotiations had been very constructive. Berzins said that his nomination for the post is a great honor.

Asked about the necessary support to his candidacy at the Saeima, Berzins said that he would be able to tell about his chances after he has has similar meetings with other Saeima groups and lawmakers.

Kazaks has confirmed that he would be ready to continue leading the Bank of Latvia, but politicians have so far maintained their position not to discuss the issue of the choice of the central bank's next head at length, arguing that they first have to deal with the adoption of next year's state budget, which was scheduled for the first week of December. There has been no loud criticism of Kazaks' job performance from politicians, but there is no unequivocal support either.

As reported, Greens/Farmers have nominated Altum CEO Reinis Berzins for the position of Bank of Latvia Governor. Greens/Farmers argue that under Berzins' leadership, the Latvian central bank will manage to make the banking sector work for the benefit of the national economy and defend national interests both in Latvia and internationally.

In accordance with the law on the Bank of Latvia, the Saeima elects the central bank's governor for a five-year term upon recommendation of at least 10 lawmakers. The same person may take the post for no more than two successive terms.