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Latvian banking chief to miss ECB meeting amid corruption reports

Ilmars Rimsevics has been barred from performing his duties by Latvia’s anti-corruption agency, but cannot be fired by the government.

Latvia’s banking chief Ilmars Rimsevics will miss a meeting of the European Central Bank’s (ECB) top council amid an investigation into suspected corruption.

The Bank of Latvia’s spokesman, Janis Silakalus, said Latvia would be represented at the meeting by Mr Rimsevics’ deputy, Zoja Razmusa.

The ECB declined to comment on whether the council would discuss Latvia’s situation. Besides the probe into Mr Rimsevics, a local bank required a rescue loan after a damning report from the US Treasury.

Mr Rimsevics has been barred from performing his duties by Latvia’s anti-corruption agency, but cannot be fired by the government. The prime minister and president have called on Mr Rimsevics to step down amid a report that he is accused of extortion and connections to money laundering.

Mr Rimsevics denies any wrongdoing.

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