Ilmars Rimsevics President of the Central Bank of Latvia Country: Latvia

1. Biography of Ilmārs Rimšēvičs
2. Leadership in the Bank of Latvia
3. Positive Signal to the Latvian Economy
4. Children's Coin Design

Biography of Ilmārs Rimšēvičs

Ilmārs Rimšēvičs was born in 1966. He graduated from Riga Technical University and Clarkson University in the United States with a master's degree in finance. From 1990 to 1992, Rimšēvičs worked as an economist at Latvijas Zemes banka. In 1992, he became the Deputy President of the Bank of Latvia and in 2001, he was elected as the head of the central bank.

Leadership in the Bank of Latvia

During his tenure in the Bank of Latvia, Rimšēvičs demonstrated the qualities required of a high-level financial professional. He has the ability to look into the future and clearly articulate his opinions, even when they are not popular. His ability to influence the government has been highly regarded. Rimšēvičs' previous term as the head of the central bank ended in late 2008, and his new term began on December 21, 2008. His candidacy was nominated by the government parties, and his term will last for six years.

Positive Signal to the Latvian Economy

The leaders of major commercial banks consider the re-election of Ilmārs Rimšēvičs as the President of the Bank of Latvia to be a positive signal to the Latvian economy. According to Rimšēvičs, the Bank of Latvia is ready to participate in the development of a strategic plan to stabilize the national economy. He also stated that the national currency, the Lat, is stable, but efforts should be made to introduce the Euro by 2012-2013.

Children's Coin Design

In 2009, the Bank of Latvia will release a coin featuring the artwork of six-year-old Riga resident, Emīlija Adumane. Ilmārs Rimšēvičs, the President of the Bank of Latvia, greeted participants of the "My Dream Coin" exhibition. He mentioned that it has been eight years since the previous children's drawing competition to choose the design for a coin. Rimšēvičs emphasized the importance of considering the opinions of children, as they will shape the future of Latvia.