On 19 February 2025, Mārtiņš Kazāks, Governor of Latvijas Banka, submitted a proposal to Daiga Mieriņa, Speaker of the Saeima, to re-elect Māris Kālis and Zita Zariņa as Council Members for a second term. Their current terms are set to expire on 12 March 2025 and 14 April 2025, respectively.
Māris Kālis, who briefly assumed the duties of Governor before Kazāks’ re-election, is responsible for financial stability, investment management, and macroprudential supervision. Zita Zariņa oversees cash and non-cash payments, the digital euro project, innovation, audit, and IT.
With Kālis’ term expiring in March and Zariņa’s in April, the Saeima will deliberate on their re-election. Governor Kazāks elaborated on their contributions, citing Kālis’ role in institutional strengthening and investment management and Zariņa’s work in modernising Latvia’s payment systems and financial innovations. Both candidates bring national and international experience, having worked with the European Central Bank, the International Monetary Fund, the European Commission, and Latvia’s financial institutions.
Mārtiņš Kazāks stated: “I urge the Saeima to approve the candidacies of Māris Kālis and Zita Zariņa, allowing them to continue the work they have started and to implement new projects within their respective areas of oversight. Māris Kālis is crucial to the institutional strengthening of Latvijas Banka as he oversees the development and optimisation efforts and ensures successful investment management, along with other areas of responsibility. Zita Zariņa oversees the development of modern payments, with Latvia being one of the leading euro area countries in this sector. The areas of her responsibility include access to cash, innovation projects at Latvijas Banka, modern data management, audit, and others. During the first term of their office, Māris Kālis and Zita Zariņa proved themselves to be high-level professionals, and their work is valued not only in Latvia, but also at the euro area level. I hope that the Saeima will make a positive decision, particularly considering that it recently already approved Māris Kārlis for taking on the duties of Governor of Latvijas Banka. During one and a half months, he successfully managed the institution’s day-to-day operations and oversaw the implementation of projects of significant public value, such as the project to inform the public about mortgage refinancing options.”
