The head of Slovakia’s central bank and ECB Governing Council member, Peter Kažimír, has been convicted of bribery
Photo: Peter Kazimir / social network X

Peter Kazimyr, a member of the Governing Council of the European Central Bank (ECB) and the head of the National Bank of Slovakia, has been found guilty of bribery and fined 200,000 euros ($225,380), Bloomberg reports .

If Casimir fails to pay the fine, he faces one year in prison. This is the first time that the current governor of Slovakia's central bank has been sentenced in a criminal case.

56-year-old Kazimierz was accused of giving a bribe of 48,000 euros to a high-ranking tax official, while still Minister of Finance, to expedite VAT refunds to individual companies.

Kazimir himself denies the charges. His lawyers have already stated that they will recommend an appeal.

Despite the sentence, Kazimir remains in office – his term officially ends on June 1.

This will allow him to participate in the next ECB meeting on interest rates, which will be held on June 4-5 in Frankfurt. It is expected that the ECB may lower the rate to 2%.

The National Bank of Slovakia said it was taking into account the court's decision, which has not yet entered into force. The bank stressed that the situation "does not affect its operations."

Casimir could be removed from office if a higher court confirms his guilt or if Prime Minister Robert Fico's government agrees on a replacement. Until then, he will remain acting.

The governor was not present in court on Thursday. His lawyer said he was on a business trip in Hong Kong.

Kazimir's lawyer asked a court in Slovakia to drop the investigation after the government approved an amendment to the Criminal Code last year that shortens the statute of limitations.

According to Fico, the amendment was intended to limit the alleged "abuse of law enforcement agencies for political purposes." The opposition criticized the change, saying it was aimed at protecting the prime minister's allies.