Jorgovana Tabakovic to be appointed new Governor of the National Bank of Serbia

New government will, straight after elections, suggest amendment to the Law on the National Bank of Serbia which would contribute to appointing Jorgovana Tabakovic, currently Vice President of the Serbian Progressive Party, NBS Governor, as NIN writes and as it has been confirmed by more independent sources, one of the future ministers among them.

The same sources claim that amendments to the Law on the National Bank of Serbia are likely to be implemented at short notice, in a week or two. The objective of these amendments is, NIN writes, to facilitate governor’s shift, thus some clauses which came into force June 2010 and which “lay foundation of independence of the NBS first man”, will be cancelled.

It has been then established that the governor is elected after six years while replacement is predicted only in case the Council of Governors, comprising five members, and the Board for the Finances of the Serbian Assembly agree that the governor “has been performing its function in an inexpert manner and unconscientiously and had serious flaws in decision making and executing process”.

Soskic, as NIN writes, has the majority support of five members of the Governors’ Council, consisting of Bosko Zivkovic, Milojko Arsic, Nikola Martinovic, Kosta Josifidis and Zorica Mladenovic.

Soskis is refusing to withdraw, thus the prevailing majority found “the Solomon solution” in the amendment of the law, after which Tomislav Nikolic, the President of the Republic, will be able to suggest Jorgovanka Tabakovic for governor to the Assembly.

“It is highly likely that, together with Soskic, two out of four vice governors will be changed – Mira Eric-Jovic and Bojan Markovic while Diana Dragutinovic and Ana Gligorijevic, as it is, keep their positions,” - NIN writes.

Weekly magazine reminds that for two years, none of the governors of the National Bank of Yugoslavia, after that Serbia, succeeded in surviving the end of his mandate.

That period saw eight governors parading through the central bank. Thus, each one of them held the position for two and a half years which is three and a half years shorter than the period predicted for the governor’s election, according to the Law on the National Bank of Serbia.