BUSINESS IN SHORT

Cabinet agrees on new NBS governor

THE CABINET has agreed to the Finance Ministry’s proposal to nominate Jozef Makúch for the post of governor of the National Bank of Slovakia (NBS), the central bank of the Slovak Republic, the SITA newswire reported.

THE CABINET has agreed to the Finance Ministry’s proposal to nominate Jozef Makúch for the post of governor of the National Bank of Slovakia (NBS), the central bank of the Slovak Republic, the SITA newswire reported.

Makúch, currently a member of the NBS bank board, will replace the incumbent governor, Ivan Šramko, on January 1, 2010 after Slovakia’s parliament votes on the nomination. Šramko’s term in office is set to expire on December 31.

The NBS governor will represent the Slovak central bank on the 22-member board of governors of the European Central Bank, where decisions are made on eurozone monetary policy. Slovakia became a member of the body on January 1, 2009, when it adopted the euro.

At its November session parliament approved an indirect amendment to the law on the NBS, opening the possibility for the incumbent governor to remain in his post even after his term ends, until the appointment of a new governor. There was speculation that this would allow another term in office for Šramko because the Finance Ministry had refused to disclose its preferred candidate for the post at that time.


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