Today, on 6 February 2025, the Saeima of the Republic of Latvia elected Mārtiņš Kazāks Governor of Latvijas Banka for a term of five years.
For Mārtiņš Kazāks, this is the second term as Governor of Latvijas Banka, set to last until 5 February 2030.
Mārtiņš Kazāks was born on 19 September 1973 in Liepāja.
He is a graduate of Liepāja Rainis Secondary School No 6 (1991) and holds a BSc in Economics from the University of Latvia (1995), a Diploma in Economics from the University of Cambridge (1996), an MSc in Economics (with Distinction; 1997), as well as a PhD in Economics (2005) from the University of London.
In 1994–1995, he was Leading Economist in the Department of Macrofiscal Analysis and Forecast of the Ministry of Finance of the Republic of Latvia and Research Assistant at the Riga Office of the International Research and Exchanges Board (IREX).
Between September 2000 and June 2001 and from September 2001 to June 2002, he served as Honorary Research Assistant at the Social Sciences Department, School of Slavonic and East European Studies, University College London.
Between November 2005 and December 2009, he worked as Chief Economist at AS HANSABANKA (subsequently renamed Swedbank AS) and Baltic Banking Chief Macro Analyst at the Hansabank Group. From January 2010 to August 2018, he was Deputy Chief Economist of the Swedbank Group, Chief Economist of Swedbank Latvia and Head of Macro Research Baltics of the Swedbank Group.
On 21 June 2018, the Saeima of the Republic of Latvia appointed Mārtiņš Kazāks Member of the Council of Latvijas Banka as of 1 August 2018. On 12 December 2019, the Saeima of the Republic of Latvia elected Mārtiņš Kazāks Governor of Latvijas Banka for a term of five years, which lasted until 20 December 2024.
Mārtiņš Kazāks has lectured at the Stockholm School of Economics in Riga (1996–2008), the University of London, Riga Stradiņš University, and Riga Business School.
He has been a member of the following bodies: the Strategic Analysis Committee of the President of Latvia (2006–2011), Counselor Convention of BA School of Business and Finance, Counselor Convention of Liepāja University, and Fiscal Discipline Council of the Republic of Latvia (2014–2018). He is a member of the Economists Association 2010 and National Association for Business Economics (USA).
Mārtiņš Kazāks has authored and co-authored numerous publications in the fields of financial markets and their integration, the economic development cycle and financial crises, fiscal policy, and competitiveness of the economy.
In his capacity as Governor of Latvijas Banka, Mārtiņš Kazāks was a Member of the Governing Council of the European Central Bank and the General Council of the European Central Bank. Mārtiņš Kazāks was Governor of the International Monetary Fund for the Republic of Latvia.