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President of the Republic proposes Dr Marko Kranjec as governor of the Bank of Slovenia

Ljubljana, 06/08/2007  |  press release


President of the Republic of Slovenia Dr Janez Drnovšek today submitted a proposal to the National Assembly to appoint Dr Marko Kranjec governor of the Bank of Slovenia.

The letter sent by President Drnovšek to the National Assembly gives information on the candidate and grounds for the proposal:

"Mr Mitja Gaspari, then governor of the Bank of Slovenia, notified me in early October 2006 of the fact that his six-year term would expire on 31 March 2007.

After the National Assembly had discussed the two proposals I had submitted, I notified the National Assembly on 16 April 2007 in a letter (no. 001-23-6/2006-20) that I would continue searching for a candidate for this position who would satisfy all the requirements for this professionally demanding and politically independent position. This process has been considerably influenced by the fact that both previous candidates failed to receive sufficient National Assembly support, even though neither one could be reproached for a lack of expert knowledge and experience in this area. This certainly accounts for the slackened interest on the part of eligible potential candidates for this position. In a letter (no. 001-23-6/06-21) dated 18 May 2007 from the Office of the President of the Republic, the President of the National Assembly was informed in detail of the activities I have carried out with the intent to appoint a new governor of the Bank of Slovenia without undue delay.

After consultations with leaders of parliamentary groups and after having received the consent of Dr Marko Kranjec, I decided to propose that the National Assembly appoint Dr Kranjec, a professor at the Faculty of Public Administration, governor of the Bank of Slovenia.

Dr Marko Kranjec was born on 12 April 1940 in Novo mesto. After graduating from the Faculty of Economics in Ljubljana he became an assistant professor at the same faculty, teaching public finance. In 1968 he became head of the Analysis Department at Ljubljanska banka, and from 1970 to 1976 he worked as a researcher at the Institute of Economic Research. In 1975 he obtained his PhD in Economic Sciences and went abroad. He worked as a macroeconomist, first at the Paris headquarters of the OECD, and later, from 1984 to 1986, at the World Bank in Washington, DC in the US.

He returned to Slovenia with a valuable collection of international experience and became a research adviser at the Institute of Economic Research in Ljubljana. In 1990 he became minister of finance in the first Government of the independent Republic of Slovenia and contributed greatly to the financial and economic autonomy of Slovenia and to the introduction of the tolar, the first Slovenian currency.

From 1991 to 1997 he was vice-governor and member of the Governing Board of the Bank of Slovenia and played an important role in the consolidation of this institution in the period immediately following the independence of Slovenia. His extensive international experience was acknowledged, and in 1998 he was appointed ambassador of the Republic of Slovenia to Brussels. His four-year mandate covered a period that was of paramount importance as Slovenia was engaged in negotiations for the accession to the EU.

In 2001 he received the Silver Order of Freedom of the Republic of Slovenia for his contribution to the establishment of the financial and economic autonomy of Slovenia.

From 2002 to 2006 Dr Kranjec was back at the Faculty of Public Administration of the University of Ljubljana as a professor of public finance.

The expertise of Dr Kranjec has also been acknowledged by the numerous international organisations (such as the OECD, World Bank, International Monetary Fund and FAO) that employed him as a consultant for many years. He was Slovenia's representative in the Administrative Council of the Council of Europe Development Bank, where his expertise was much valued.

Presently he is a member of the Government's strategic council for economic development, and in 2005 he actively participated in preparations for tax legislation reform. In that period he was also member of the supervisory board of Krka, Novo Mesto.

Dr Kranjec has excellent expertise in and a profound understanding of the finance and banking fields. He possesses the experience and the personal characteristics necessary to be a successful governor of the Bank of Slovenia and to represent this institution within the European Central Bank. He is fluent in English, French, German and Italian.

Based on the above, I believe that Dr Marko Kranjec is an appropriate candidate for governor of the Bank of Slovenia. Consequently, I propose that the National Assembly appoint Dr Kranjec to this demanding and important position."
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