July 11, 2018 / 11:40 AM / a month ago

Croatia's ruling coalition to re-appoint Vujcic as c.bank governor

ZAGREB, July 11 (Reuters) - Croatia’s ruling coalition has agreed to keep central bank governor Boris Vujcic at the bank’s helm for a second six-year term, local media reported on Wednesday.

The Croatian parliament is expected to confirm the re-appointment of Vujcic, whose term expired on July 8, at its session on Friday, Croatian online media DNEVNIK.hr said.

One of the key tasks for the new governor will be preparing to adopt the European Union’s single currency, the euro, which the government has set as its major economic goal in the next few years.

The ruling coalition, led by the conservative HDZ party and including the liberal HNS group and representatives of national minorities, agreed that an economist Sandra Svaljek, a former Zagreb deputy mayor currently holding a position at the city assembly, take on the position of the bank’s deputy governor.

The parliament is also due to vote on three vice-governors whose terms in office expire in July as well.

From July 8 until the appointment of the new governor, the central bank is run by Vujcic’s deputy Relja Martic.

The central bank’s monetary policy largely revolves around keeping the national currency, the kuna, stable against the euro in a managed float regime. The bank occasionally intervenes to curb stronger rate movements, and the kuna effectively floats at between 7.3 and 7.7 to the euro. (Reporting by Maja Zuvela in Sarajevo Editing by Alexandra Hudson)

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