lv

Conference hosted by the Bank of Latvia
RETURN TO SUSTAINABLE ECONOMIC GROWTH AND STABILITY IN LATVIA

Governor of the Bank of Latvia Ilmārs Rimšēvičs graduated from the Riga Technical University (1983-1990) with a BA in economics and international trade relations. In 1988-1989, Ilmārs Rimšēvičs studied at St. Lawrence University (USA), receiving an honours degree. In 1992, he graduated from Clarkson University, USA (1991-1992), receiving an MBA Degree. Ilmārs Rimšēvičs has been Deputy Chairman of the Economics Committee of the Popular Front of Latvia (1989-1990), Manager of the Foreign Operations Department and Head of the Securities Department at the JSC Latvijas Zemes banka (1990-1992).

On 2 July 1992, the Supreme Council of the Republic of Latvia appointed Ilmārs Rimšēvičs Deputy Governor of the Bank of Latvia. On 27 August 1992, the Council of the Bank of Latvia appointed him Chairman of the Board of the Bank of Latvia. On 12 February 1998, the Saeima appointed Ilmārs Rimšēvičs Deputy Governor for a second term of six years.

On 20 December 2001, Ilmārs Rimšēvičs was appointed Governor of the Bank of Latvia. In accordance with Article 22 of the Law "On the Bank of Latvia", the Governor of the Bank of Latvia is appointed for a term of six years. On 1 November 2007, the Saeima of the Republic of Latvia appointed Ilmārs Rimšēvičs Governor of the Bank of Latvia for a second term of six years as of 21 December 2007. Ilmārs Rimšēvičs is a Member of the General Council of the European Central Bank and a Governor of the International Monetary Fund for Latvia.

Anders Åslund is a leading Swedish specialist on the East European economies, especially Russia and Ukraine. Dr. Åslund received his doctorate from Oxford University (St. Antony's College) in 1982. He has a B.A. from the University of Stockholm and an M.Sc. in Economics from the Stockholm School of Economics. Since 2006, he is a senior fellow at the Peter G. Peterson Institute for International Economics in Washington, DC. He also teaches at Georgetown University. He served as an economic advisor to the Russian government,
1991-1994, to the Ukrainian government, 1994-1997, and to the President of the Kyrgyz Republic, 1998-2004.

Anders Åslund served as a Swedish diplomat in Kuwait, Geneva, Poland, Moscow, and Stockholm. From 1989 until 1994, he was Professor and founding Director of the Stockholm Institute of Transition Economics at the Stockholm School of Economics. Dr. Åslund has also been a scholar at the Kennan Institute for Advanced Russian Studies, Woodrow Wilson International Center for Scholars, Washington, DC, and at the Brookings Institution, Washington, D.C. From 1994 till 2005, he worked at the Carnegie Endowment for International Peace, as a senior associate and Director of the Russian and Eurasian Program.

Dr. Åslund is the author of nine books, including How Ukraine Became a Market Economy and Democracy (Peterson Institute, 2009), Russia's Capitalist Revolution (Peterson Institute, 2007), How Capitalism Was Built: The Transformation of the Central and Eastern Europe, Russia, and Central Asia (Cambridge University Press, 2007), Building Capitalism (Cambridge University Press, 2001), How Russia Became a Market Economy (Brookings, 1995), Gorbachev's Struggle for Economic Reform (Cornell University Press, 1989), and Private Enterprise in Eastern Europe: The Non-Agricultural Private Sector in Poland and the GDR, 1945-83 (Macmillan, 1985). He has edited fourteen books, most recently The Russia Balance Sheet (2009) and Challenges of Globalization (2008). He has also published widely, including in Foreign Affairs, Foreign Policy, National Interest, New York Times, Washington Post, Financial Times, and Wall Street Journal.

Panel Discussion I

Juris Kravalis is the Head of International Department, Bank of Latvia. He holds M.Sc.econ. from the Institute of International Affairs of the University of Latvia and he has started his studies for the Doctor Degree at the Faculty of Economics and Management of the University of Latvia. He started his career at the International (former Foreign Relations) Department of the Bank of Latvia in 1995 as Chief Specialist, was later promoted to the position of Deputy Head of the Department and then - of the Head of the Department. An important period in his work experience was performing the tasks of the Senior Advisor to the Executive Board of the International Monetary Fund from 2005 to 2007.

In his capacity of Head of International Department, Juris Kravalis is in charge of coordinating the issues that fall within the competence of the Bank of Latvia with the respective Latvian authorities both in various European Union fora and the International Monetary Fund. On a daily basis, Head of the department carries out the function of the Bank of Latvia as the coordinating institution for the International Monetary Fund affairs in Latvia and monitoring of international economic developments.

Elena Flores has a Master's degree in Economics from Universitat Autonoma de Barcelona (1982) and also holds a Master's degree in European Economy from College of Europe in Bruge, Belgium (1984).

She worked as an assistant professor in Universitat Autonoma de Barcelona in the field of international economics from 1982 to 1986. Elena Flores has been working for the European Commission since 1987 as an economist and official. From 1987 to 1990 she was with the Directorate General for Budget and was involved in undertaking the financial reform of the European Community. Since 1990, Elena Flores has been a member of the team responsible for economic and monetary union under the Directorate General for Economic and Financial Affairs. Since January 1997, she has been heading the unit "Monetary union: technical and market questions", and since January 1999 - "Financial markets and financial intermediaries". From October 1999 to October 2002, Elena Flores worked in an advisory capacity in Commissioner Solbes Office and was responsible for economic policies, employment, taxation and financial issues.

From October 2002 to June 2007, Elena Flores led the unit "Public finance in the euro area and the EU" of the Directorate General for Economic and Financial Affairs. Elena Flores was appointed Director of Economies of the Member States II of the Directorate General for Economic and Financial Affairs in June 2007.

The Director of the European Investment Bank Tilman Seibert holds a degree in Economics from the Ludwig-Maximilians University of Munich. Following research tasks at the Ifo Institute for Economic Research at the University of Munich and the German Development Institute in Berlin, he started his banking career at the German KfW Banking Group (Kreditanstalt für Wiederaufbau, KfW) in 1979. He joined the Department for Italy (Rome) of the European Investment Bank in 1984 and moved to Luxembourg in 1995. In 1999, Tilman Seibert was appointed as Head of the Division for Lending Operations in the United Kingdom, Ireland and subsequently also in the Scandinavian countries. Following work on the financing of the Trans-European Transport and Energy Networks he was appointed as Head of the Baltic Sea Department for the European Investment Bank's Lending Operations in the Nordic and Baltic Countries as well as in Poland in 2007.

Oļegs Tkačevs is Senior Economist at the Macroeconomic Analysis Division of the Monetary Policy Department, Bank of Latvia. He holds a Master's degree in Economics from the University of Latvia and a Diploma in European Studies from the University of Southern Denmark (Odense). From 2001 to 2003, he worked as a lecturer at the Riga Technical School of Business. He started his career at the Monetary Policy Department of the Bank of Latvia in 2004 as an economist.

Oļegs Tkačevs' responsibilities include analysing Latvia's fiscal policy, forecasting budgetary indicators, participating in the Working Group on Public Finance of the Monetary Policy Committee of the European System of Central Banks as well as doing research into the area of fiscal policy.

Panel Discussion II

Uldis Rutkaste is Deputy Head of the Monetary Policy Department and advisor to the Governor of the Bank of Latvia. Uldis Rutkaste holds a Master's Degree in Economics from the University of Latvia and a Diploma in European Studies from the University of Southern Denmark. He started his career at the Bank of Latvia in 2002 as an economist of the Monetary Policy Department and was later promoted to the position of senior and chief economist. Before his employment at the Bank of Latvia, he worked as a senior officer of the Economic Policy Department at the Ministry of Economics of the Republic of Latvia.

At the Bank of Latvia, Uldis Rutkaste has a broad range of responsibilities from conducting of macroeconomic analysis and applied research projects to participating in policy debate and cooperating with domestic and international institutions. His recent research activities focus on international trade and external competitiveness issues.

Elīna Egle is the Director General of the Employers' Confederation of Latvia (LDDK) which is the biggest and most influential organisation representing the interests of employers and uniting branch and regional associations and leading enterprises that play a significant role in the economy. The LDDK acts as a partner in socioeconomic negotiations with the Saeima of the Republic of Latvia, Cabinet of Ministers of the Republic of Latvia and Free Trade Union Confederation of Latvia. Elīna Egle represents the interests of LDDK members in national committees and councils, including the National Tripartite Cooperation Council (NTCC), thus involving employers in drafting regulatory enactments of the Republic of Latvia and voicing their position at European Union level. She represents the LDDK in the International Organisation of Employers, Business and Industry Advisory Committee of the OECD and Confederation of European Business.

For eight years, Elīna Egle has worked at AS Aldaris in communications area building the company's public relations. Her activities were highly appreciated by the International Public Relations Association and Latvian Association of Public Relations Professionals.

Elīna Egle has a university degree in sociology and she is currently studying for the Doctor Degree in Political Science at the University of Latvia.

Andris Ozoliņš, Chairman of the Management Board and President of DnB NORD Banka holds a Master's Degree in Political Science from the University of Latvia and an EMBA degree from the Business Institute of Latvia.

Andris Ozoliņš has worked at "NORD/LB Latvija" since 1999 as the Vice President and Member of the Management Board but in 2004 he became President of DnB NORD Banka. Andris Ozoliņš is also the Chairman of the Council of the Association of Latvian Commercial Banks.

Ģirts Greiškalns has held the office of the Executive Director of the Foreign Investors Council in Latvia (FICIL) since October 2006. The FICIL is a non-governmental organisation that unites the largest companies from various countries and sectors that have made significant investments in Latvia as well as Chambers of Commerce of nine countries in Latvia. His responsibilities include managing FICIL's agenda, cooperating with the Members of the Council, heading and coordinating FICIL project groups on issues regarding the economic environment and investment climate in Latvia as identified by the Members as well as representing the FICIL and its position to government officials, authorities, business community and general public.

Ģirts Greiškalns has graduated from the Riga Technical University with a Master's degree in Management of International Economic Relations. He also holds an Engineering Bachelor's degree in Economics, and an Economist qualification for the organisation and planning of international economic relations.

Prior to joining the FICIL, Ģirts Greiškalns was the Deputy Head of the United Kingdom Trade and Investment Section of the British Embassy in Riga having a broad range of responsibilities (giving advice and consultation to the United Kingdom and Latvian companies, monitoring economic developments and participating in policy debate with domestic and international institutions). Apart from this, he has work experience in the banking sector and tax and customs authorities.