Central bank policy "won't change"

There will not be any changes in the monetary policy after the resignation of National Bank of Serbia (NBS) Governor Radovan Jelašić.

Izvor: B92

Wednesday, 24.03.2010.

10:38

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There will not be any changes in the monetary policy after the resignation of National Bank of Serbia (NBS) Governor Radovan Jelasic. This is according to President of the Council of NBS Dejan Soskic, who spoke for B92. Central bank policy "won't change" “The NBS has precisely defined legal jurisdiction and internal regulations which regulate the functioning of the institution down to the details, so any instability in its work should not be expected,” he said. “The Council has 60 days to accept Jelasic’s resignation and initiate a procedure for the election of his replacement,” he explained. As he addressed reporters in Belgrade on Tuesday, Jelasic assured them that he was leaving for personal reasons and not because of the pressures from the government and the business world. The president of the NBS Council does not doubt the sincerity of the explanation. “I personally believe the governor, I think that he’s always telling the truth and finally, it’s my duty when it comes to these things. Whether there were some disputes regarding the concepts related to the monetary policy – it’s clear that people are entitled to different opinions, but what is undisputable is that the NBS acting in accordance with the law and appropriate memorandums, which have been, among others, made with the Serbian government." "Therefore, different opinions are a healthy thing, and I would say a normal phenomenon, but the moment when they are put in a document they are mandatory for all institutions which are in charge of their implementation until these documents are changed,” Soskic emphasized. He did not wish to speak about who is likely to succeed Jelasic at the helm of the central bank. “I wouldn't go into this kind of speculation, it is, after all, up to politicians to assess who the candidates will be. I'm sure that there are many candidates in our country who could perform this duty in a satisfactory manner,“ Soskic concluded.

Central bank policy "won't change"

“The NBS has precisely defined legal jurisdiction and internal regulations which regulate the functioning of the institution down to the details, so any instability in its work should not be expected,” he said.

“The Council has 60 days to accept Jelašić’s resignation and initiate a procedure for the election of his replacement,” he explained.

As he addressed reporters in Belgrade on Tuesday, Jelašić assured them that he was leaving for personal reasons and not because of the pressures from the government and the business world.

The president of the NBS Council does not doubt the sincerity of the explanation.

“I personally believe the governor, I think that he’s always telling the truth and finally, it’s my duty when it comes to these things. Whether there were some disputes regarding the concepts related to the monetary policy – it’s clear that people are entitled to different opinions, but what is undisputable is that the NBS acting in accordance with the law and appropriate memorandums, which have been, among others, made with the Serbian government."

"Therefore, different opinions are a healthy thing, and I would say a normal phenomenon, but the moment when they are put in a document they are mandatory for all institutions which are in charge of their implementation until these documents are changed,” Šoškić emphasized.

He did not wish to speak about who is likely to succeed Jelašić at the helm of the central bank.

“I wouldn't go into this kind of speculation, it is, after all, up to politicians to assess who the candidates will be. I'm sure that there are many candidates in our country who could perform this duty in a satisfactory manner,“ Šoškić concluded.

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