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Ceturtdiena 09.04.2020 | Name days: Valērija, Žubīte
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Ilmārs Rimševičs to focus on restoring his reputation in court

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Bank of Latvia, governor, Ilmārs Rimšēvics, reputation, court

Ilmārs Rimšēvičs

After the end of his term as governor of the Bank of Latvia, Ilmārs Rimšēvičs plans to focus on restoring his reputation in court, as the man himself confirmed to journalists at a press conference.

The governor of the Bank of Latvia admits having received several job offers, but he has decided not to accept them, because he plans to focus on restoring his reputation. «My near-future goal is countering all the lies aimed at me in court. This is the most important issue for me,» said Rimšēvičs.

When asked who wants to blacken his reputation, Rimšēvičs said this is «a form of farewell for the governor of the Bank of Latvia from three banks shut down for money laundering».

Rimšēvičs added that since 2016 he has fought to clean the banking system and preserve US dollar transactions. «Decisions were unpleasant, which is why banks were angry,» he stressed.

He added that currently the banking system has ended up in the other extreme end – there is no longer servicing of non-residents and banks are too cautious in servicing any clients. «Had the necessary measures been performed in 2016 and 2016, we would not have ended up in this situation,» he stressed.

He predicts that in time the financial system will recover and the Bank of Latvia together with the Finance and Capital Market Commission will form a business model that will work and will help restore crediting.

Rimšēvičs also said the risks of sanctions from US Department of Treasury Office for Foreign Asset Control are sufficiently high. Additionally, it remains unclear if Latvia is able to convince partners that enough has been done to prevent Latvia from being added to the grey list of the Financial Action Task Force (FATF).

«We did not do our homework in 2016, which should have been done to avoid this Damocles sword hanging above Latvia,» said Rimšēvičs.

On Monday, 16 December, the final press-conference for Rimšēvičs took place. On 12 December, Latvia’s Saeima approved Bank of Latvia council member Mārtiņš Kazāks as the bank’s new governor. His term will begin 21 December.

As it is known, Ilmārs Rimšēvičs and Māris Martinsons are accused of corruption.


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