New central bank chief vows "not to print money"

Speaking ahead of being elected new NBS governor on Monday, Jorgovanka Tabaković said she would "freeze" her party activities.

Izvor: Beta

Monday, 06.08.2012.

14:49

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BELGRADE Speaking ahead of being elected new NBS governor on Monday, Jorgovanka Tabakovic said she would "freeze" her party activities. Speaking on Monday as the Serbian parliament was debating her candidature, the high ranking official of the ruling SNS party noted that "nobody would be able force her to print money". New central bank chief vows "not to print money" In addition, under her future leadership, "there would be no spending of hard currency reserves", said Tabakovic, promising to slash her own salary once she takes over at the helm of the central bank, and adding: "The goal of the changes to the Law on the NBS was to strengthen the independence and the connection between the central bank and parliament. Previously, there was no way to examine whether the NBS was meeting its goals. With this, we are making the control over the NBS more efficient." Responding to fears expressed by opposition parties related to the management of the country's hard currency reserves, Tabakovic described herself as "a very stubborn person", who would not be coerced into "printing money, or spending reserves". She, however, would not specify what measures she intended to take once elected, stressing that she would "first have to gain insight into the documentation, reports about the monetary policy measures, and see the balance between the NBS and the state institutions that have their own funds." "I will consider myself a citizens' ombudsman because I will be protecting the interests of the citizens by maintaining a monetary stability," said Tabakovic, and added that she was honored to have been suggested for the post by President Tomislav Nikolic - "who was elected by all citizens". Jorgovanka Tabakovic arrives at the parliament building on Monday (Tanjug) Beta Tanjug

New central bank chief vows "not to print money"

In addition, under her future leadership, "there would be no spending of hard currency reserves", said Tabaković, promising to slash her own salary once she takes over at the helm of the central bank, and adding:

"The goal of the changes to the Law on the NBS was to strengthen the independence and the connection between the central bank and parliament. Previously, there was no way to examine whether the NBS was meeting its goals. With this, we are making the control over the NBS more efficient."

Responding to fears expressed by opposition parties related to the management of the country's hard currency reserves, Tabaković described herself as "a very stubborn person", who would not be coerced into "printing money, or spending reserves".

She, however, would not specify what measures she intended to take once elected, stressing that she would "first have to gain insight into the documentation, reports about the monetary policy measures, and see the balance between the NBS and the state institutions that have their own funds."

"I will consider myself a citizens' ombudsman because I will be protecting the interests of the citizens by maintaining a monetary stability," said Tabaković, and added that she was honored to have been suggested for the post by President Tomislav Nikolić - "who was elected by all citizens".

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