Ante Žigman slated to become Croatian National Bank governor

Ante Žigman, the long-time head of Croatia’s financial services regulator HANFA, is set to become the next governor of the Croatian National Bank. 

He will succeed Boris Vujčić, who is expected to become vice president of the European Central Bank on June 1.

Finance Minister Tomislav Ćorić confirmed Žigman’s nomination after meeting with members of the ruling parliamentary majority.

“The proposed nominee of the parliamentary majority will be Ante Žigman, a long-time participant in Croatia’s financial markets and financial system, a respected economist and someone who has held various positions within the financial sector over the past three decades,” Ćorić said, adding that he expects parliament to confirm the nomination next week.

Opposition parties have criticized the proposal. SDP MP Mišel Jakšić argued that broader systemic changes are needed.

“Given Croatia’s inflation problem — the so-called ‘Plenković inflation’ — for which the Croatian National Bank is certainly partly responsible, I believe that unless we introduce major changes to our economic model and the policies of the central bank, the name of the nominee is completely irrelevant,” Jakšić said.

MOST leader Božo Petrov raised concerns over a potential conflict of interest because Žigman is married to Regional Development and EU Funds Minister Nataša Mikuš Žigman.

“What safeguards will the prime minister put in place if he appoints the husband of one of his ministers to such a position? That is the prime minister’s responsibility. Who will be held accountable if private relationships conflict with professional duties? The risk is enormous,” Petrov said.

Marin Živković of Možemo said that even if Žigman were to perform the role flawlessly, the public could still perceive the appointment as a conflict of interest.

“It will further erode public trust in the independence of institutions,” Živković said.

However, Finance Minister Ćorić rejected the criticism, stressing that the central bank is legally independent from all other branches of government and that he therefore sees no issue with the nomination.