Einars Repše

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Person.png Einars Repše  Rdf-entity.pngRdf-icon.png
Einars Repse.jpeg
Born9 December 1961
Jelgava, Latvia
Alma materUniversity of Latvia
Member ofWEF/Global Leaders for Tomorrow/1993
WEF/Global Leaders for Tomorrow/1993. President of the Latvian Central Bank 1991-2001. Prime Minister of Latvia 2002-2004.

Employment.png Prime Minister of Latvia

In office
7 November 2002 - 9 March 2004

Employment.png Latvia/Minister/Defence

In office
December 2, 2004 - December 23, 2005

Employment.png Latvia/Minister/Finance

In office
12 March 2009 - 3 November 2010

Einars Repše is a Latvian politician who was Prime Minister from November 2002 to March 2004.

He was selected a Global Leader for Tomorrow by the World Economic Forum in 1993.


Reps studied physics at the University of Latvia, graduating in 1986. In 1988, he became politically involved in Latvia's National Independence Movement (LNNK), which advocated for Latvia's independence from the Soviet Union. In 1990 he was elected to the National Assembly.

Central Bank Governor

Between 1991 and 2001, Repše was the Governor of the Central Bank of Latvia[1] and during this period was responsible for the introduction of a national currency, the Latvian ruble, which in the years 1992 to 1993 functioned as the currency before the Latvian lat was introduced in 1993. He succeeded in making the currency stable, which contributed to his popularity.

Political Career

In 2001 Repše founded a new political party, Jaunais Laiks ("New Era"). Following the November 2002 election, Repše became prime minister, leading a coalition government, which fought corruption and tax evasion. The anti-corruption measures resulted in some success, as the revenues from the gasoline tax, previously notorious for tax evasion, increased by 30% in one year. The revenues from other taxes, however, were not significantly different, compared to the previous governments, The coalition gradually fell apart and in March 2004 the government resigned.

In 2003, Repše bought real estate at various locations in rural Latvia for a total of 323 718 lats (approx. 500 000 euros). His real estate purchases were funded by loans from two Latvian banks, Hansabanka and Nord/LB Latvia. Repše's opponents immediately questioned his real estate deals, claiming that Repše has used his position to obtain loans on conditions better than those available to the general public.[citation needed] His deals were investigated by a special committee of the Latvian parliament. In December 2005, a criminal probe was started by the Corruption Prevention and Combating Bureau (KNAB). Due to this investigation, Repše resigned from his position as the minister of defence, even though he was never officially declared a suspect under the case.[2] On 12 October 2007 KNAB closed the criminal probe – no wrongdoing was discovered.

Repše's real estate deals, confrontational management style and somewhat flamboyant lifestyle led to a major decline in his popularity. In 1999 and 2000, Repše was one of the most trusted politicians in Latvia, with 75%–80% Latvians having a positive opinion of him. By the time of his resignation in 2005, he was the least popular minister in the Latvian government.

The Jaunais Laiks party returned to government in December 2004, now with Repše as defense minister. He resigned from this post in December 2005, as a result of an investigation into real estate investments he made while in government. An investigation was launched, which ended with no charges being brought since no criminal offenses were uncovered. On March 12, 2009, Repše became the new Minister of Finance of Latvia. He remained in office until November 3, 2010. [3]

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