Speedy Replacement for Macedonian Bank Governor

The role of governor of the national bank is one of the few remaining high level posts that have not been filled by appointees of the VMRO DPMNE party led government.

The regular term of the current governor Petar Gosev expires in mid May but Macedonian President Gjorge Ivanov, says he will not wait until then to reveal his successor.


“We will propose a candidate [for governor] to the parliament in the coming days” Ivanov said adding that he was holding “detailed consultations with representatives of the [economic] chambers, university professors and bankers” on the issue.

Parliament  may elect a new governor by the end of this month, ensuring that nothing is left to chance in avdance of the dissolution of pariament prior to elections.

April and May are mentioned as most likely options for a general election but if the new governor is elected this month, the transition in May should be no more than a formality.

Governor Gosev is one of the few high ranking officials not affiliated with the conservative VMRO DPMNE party. Gosev was appointed governor in 2004, two years before Gruevski came to power.

He was proposed by the previous head of state and now opposition leader, Branko Crvenkovski. The VMRO DPMNE did not support his candidacy.

Last year the governor openly confronted the government when he delivered a significantly more  pessimistic economic forecast than that of Finance Minister Zoran Stavreski.

Stavreski responded by criticising Gosev for keeping fiscal policy too tight in a move that he said hampered economic growth.

Anonymous sources close to the cabinet revealed to Balkan Insight that there are several people in consideration for the nomination.

The vice Governor Dimitar Bogov and the university professor of economy Mihail Petkovski who has been an economic advisor to several Macedonian governments are the front runners. However, some include the current head of customs, Vanco Kargov and the finance minister Zoran Stavreski as possible candidates.

The governor has a key role in supervising the banking sector, managing the states foreign currency reserves, managing the exchange rate and keeping inflation in check.

The governor has a seven year term of office.