Central bank board member Makuch likely to become governor

Jozef Makuch, a member of the bank board of the National Bank of Slovakia (NBS), is likely to become the bank's new governor, after the government approved his proposed appointment on Wednesday, December 9, Prime Minister Robert Fico's spokesperson Silvia Glendová said. Makuch's nomination must now be approved by Parliament, before President Ivan Gašparovič has the final say on his appointment.

The new governor, who is 56 years old and has been on the NBS bank board since January 2006, will replace Ivan Šramko, whose term in office expires later this year. Parliament approved an amendment to the NBS Act in early November whereby changes to the functioning of the bank's board were introduced. As a result, the board will only have five members instead of the current 11. The board's members are now also eligible for appointment to the board for an unlimited number of terms, instead of the previous maximum of two. The NBS governor and vice-governor will be able to serve two terms at most, rather than one, as was previously the case. The changes had prompted media speculation that they were designed to pave the way for Šramko’s re-appointment to a second term.

Compiled by Zuzana Vilikovská from press reports
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