Published: 09.06.2022

Mārtiņš Kazāks, Governor of Latvijas Banka, is expressing his gratitude to the Saeima for its decision to appoint Santa Purgaile, Chairwoman of the Financial and Capital Market Commission (FCMC), Kristīne Černaja-Mežmale, Member of the Board of the FCMC and Ilze Posuma, Head of the Legal Department of Latvijas Banka, as Members of the Council of Latvijas Banka.

Santa Purgaile, Kristīne Černaja-Mežmale, Ilze Posuma

Santa Purgaile and Kristīne Černaja-Mežmale will take up their duties on 1 January 2023 – the day when Latvijas Banka and the FCMC will commence work as an integrated institution, with the central bank also taking on the role of the financial sector supervisor. Meanwhile, Ilze Posuma will take up her post at the Council of Latvijas Banka on 2 July 2022, since the term of office of the current Council Members of Latvijas Banka – Arvils Sautiņš and Aivars Skopiņš – expires on 1 July 2022.

"The Saeima’s decision strengthens the central bank's management team, as well as ensures quality and continuity necessary for the integration of Latvijas Banka and the FCMC aimed at strengthening the development of the financial sector and thus also that of the overall economy. The day-to-day work of Latvijas Banka's and FCMC’s employees, as well as the support provided by the Budget and Finance (Taxation) Committee of the Saeima play a significant role in this work," stresses Mārtiņš Kazāks.

The new Law on Latvijas Banka will enter into force on 1 January 2023. It stipulates that the Council of Latvijas Banka shall comprise the Governor, two Deputy Governors and four Members. As of 1 January 2023, the number of Latvijas Banka's Council members will decrease by two compared to the current total number of the Members of Latvijas Banka's Council and the FCMC Board. It will consist of Governor Mārtiņš Kazāks, his Deputies Māris Kālis and Santa Purgaile, as well as Council Members Kristīne Černaja-Mežmale, Ilze Posuma, Andris Vilks and Zita Zariņa.

The Governor of Latvijas Banka would like to thank Arvils Sautiņš and Aivars Skopiņš for their contribution to the work of Latvijas Banka's Council.