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Bank of Latvia governor prohibited from performing duties in ECB council

Ilmārs Rimšēvičs/wikipedia.org.
The governor of the Bank of Latvia Ilmārs Rimšēvičs is denied the right to perform duties associated with his post in the council of the European Central Bank, as confirmed by the Bank of Latvia.

The bank’s press secretary Jānis Silakalns reports that the institution has received information from Rimšēvičs’ lawyer that his client is not allowed to perform duties associated with his work in European Central Bank’s council.

«From this it can be concluded that Rimšēvičs will no longer come to work in the Bank of Latvia and will not delegate duties to the next representative of the Bank of Latvia to ECB meetings,» said Silakalns.

He also notes that while Rimšēvičs is unable to perform his duties as governor of the Bank of Latvia, he will not be paid his salary. He will also have no access to the bank’s information systems and documents.

Rimšēvičs’ lawyer Saulvedis Vārpiņš had previously mentioned that even though his client has been applied with a security measure that prohibits him from performing his duties in the Bank of Latvia, his participation in meetings of the European Central Bank’s council would not be in breach of this restrictions. «As long as he does not vote on matters associated with Latvia, he will not breach restrictions. Our opinion is that Rimšēvičs works in ECB as a highly-qualified individual, not just as the governor of the Bank of Latvia. We believe Latvia does not have the authority to limit the duties of a member of ECB council,» said the lawyer.

As previously reported, Rimšēvičs is held suspect by Corruption Prevention and Combating Bureau of demanding and accepting a large bribe worth at least EUR 100,000. Businessman Māris Martinsons was initially arrested for possible support of this crime, but was later released.

CPCB notes that this criminal case is not associated with other credit institutions working in Latvia, US Finance Ministry’s reports in regards to operations performed by ABLV Bank, or the potential litigation between the Latvian state and Norvik Bank. It may be indirectly associated with Trasta komercbanka, which CPCB or Rimšēvič can neither confirm nor deny.


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Harmie 12.03.2018
Emini S