2013-10-28
Tomas Garbaravičius is proposed as candidate to the Board of the Bank of Lithuania
The Chairman of the Bank of Lithuania, Vitas Vasiliauskas, presented to President Dalia Grybauskaitė a candidate for the Board of the central bank. Economist Tomas Garbaravičius has been proposed as a new member of the Board of the Bank of Lithuania.
This candidacy was approved by the Advisory Council, made up of well-known economists and authorities in the field of economy and finance, which presents recommendations for Board members.
From 2004 till now T. Garbavičius worked at the European Central Bank (ECB); recently he was Principal Financial Stability Expert at the ECB’s Directorate General Financial Stability. At the beginning of his career he worked for eight years at the Bank of Lithuania’s Economics Department.
37 years old T. Garbaravičius received a doctorate in Economics at Vilnius University. He is the author of a number of scientific publications, and his main fields of interest are financial stability, banks, investment funds and financial markets. T. Garbaravičius is a CFA (Chartered Financial Analyst) charterholder.
The Board of the Bank of Lithuania is made up of five members. The Board currently has four members: Vitas Vasiliauskas, Chairman of the Board, Deputy Chairpersons Ingrida Šimonytė and Raimondas Kuodis, as well as Member of the Board Marius Jurgilas.
According to the Law on the Bank of Lithuania, Deputy Chairpersons and Members of the Board are appointed for a term of six years by the President of the Republic of Lithuania upon nomination by the Chairman of the Board of the Bank of Lithuania.