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Serb Lawmakers Approve Nominees to Central Bank Governor Council

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Oct. 2 (Bloomberg) -- Serb lawmakers backed five nominees for the central bank’s Governor’s Council a month after four members stepped down to protest a new central bank law.

Parliament’s Finance Committee backed Nebojsa Savic, co-founder of the Belgrade-based FEFA Faculty of Economy and Finance as the chairman of the council, whose members include macroeconomists of the Belgrade-based Economics Institute Stojan Stamenkovic and Ivan Nikolic, as well as Miladin Kovacevic, the deputy head of the Serbian Statistics Office. The fifth member is Nikola Martinovic.

The nominations were approved a week after parliament appointed three central bank vice governors.

Serbia restored parliamentary control of the Narodna Banka Srbije for the first time since the ouster of Slobodan Milosevic in 2000, a move criticized by the International Monetary Fund, the World Bank and the European Union, Serbia’s three biggest lenders and investors.

Parliament appointed Jorgovanka Tabakovic, vice president of the ruling Progressive Party, as governor on Aug. 6. The law, adopted on Aug. 4, gave a 90-day deadline for all appointments, including members of the Governor’s Council.

To contact the reporter on this story: Gordana Filipovic in Belgrade at gfilipovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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