Banks, Financial Services, Legislation, Lithuania

This candidature was agreed with the Advisory Council presenting recommendations on the appointment of the Board members that is composed of prominent Lithuania's economists, authorities of the financial and business world.

The thirty eight years old Ingrida Simonyte has finished the business administration Bachelor's studies at Vilnius University and has acquired the Master of Finance degree.

From January of this year Ingrida Simonyte is delivering lectures in macroeconomics at Vilnius University. Previously she worked at the Ministry of Finance where she headed the Taxation Department, working in the post of Vice-Minister she was responsible for the supervision of accounting and financial reporting areas, in the period 2009-2012 she served as Minister of Finance.

The Board of the Bank of Lithuania is composed of five persons. After the expiration of the term of office of Board members Audrius Misevicius and Vaidievutis Geralavicius, currently four members are working in the Board: Vitas Vasiliauskas, Chairman of the Board, Deputy Chairmen Raimondas Kuodis and Darius Petrauskas, and Marius Jurgilas who was appointed to the post of a member of the Board in May.

Darius Petrauskas whose term of office is also expiring this year decided to resign from office from 29 June and to focus on the academic activity.

According the Law on the Bank of Lithuania, Deputy Chairmen and Members of the Board are appointed for a term of six years by the President upon the nomination by the Chairman of the Board of the Bank of Lithuania.