Rimšēvičs will not represent Latvia at key World Bank and IMF meeting

Due to an ongoing corruption investigation against the Latvian central bank governor, Ilmārs Rimšēvičs , Latvia will instead send the deputy governor to the annual Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington, D.C., this April, the LETA newswire reports.

The Latvian Finance Ministry has submitted to the Latvian Cabinet of Ministers a draft resolution under which the Bank of Latvia Deputy Governor, Zoja Rasmusa, is to be sent to Washington instead of Rimšēvičs .

The Latvian government's delegation to the IMF and the World Bank Group meetings will be chaired by Finance Minister Dana Reizniece-Ozola. The delegation will also include representatives of the Treasury, the Finance Ministry, the Bank of Latvia, the Foreign Ministry and the financial regulator, the Finance and Capital Market Commission.

The Spring Meetings of the IMF and the World Bank Group each year bring together central bankers, ministers of finance and development, private sector executives, and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness. Also featured are seminars, regional briefings, press conferences, and many other events focused on the global economy, international development, and the world’s financial system. This year’s Spring Meetings events will take place in Washington, DC, on April 20-22.

Rimšēvičs remains unable to leave the country due to restrictions placed upon him in connection with a security bond while KNAB anti-corruption officers continue to compile a case against him. Though no formal charges have been presented as yet, KNAB has said it suspects Rimšēvičs of soliciting or accepting a bribe of not less than 100,000 euros.

Rimšēvičs denies the accusation and as previously reported by LSM is appealing to the European Court of Justice against the restrictions placed upon his movements which also prevent him fulfilling his duties as a member of the European Central Bank's governing council. 

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