Sutt's return to Bank of Estonia means Ligi steps down

Andres Sutt
Andres Sutt Source: Ken Mürk/ERR

The Reform Party wants to reinstate Andres Sutt as a member of Bank of Estonia's (Eesti Pank) supervisory board, in a move that will require Jürgen Ligi to step down.

Mart Võrklaev, chair of Reform's parliamentary group in the Riigikogu outlined the situation in a letter to Mart Laar, chair of the Bank of Estonia's supervisory board.

In the letter, Võrklaev explained that Sutt, who became a member of the Bank of Estonia's supervisory board on June 15, 2020, relinquished the role in January 2021 after being appointed to the position of minster of entrepreneurship and finance.

"Following the appointment of Andres Sutt as minister of entrepreneurship and information technology on January 26, 2021, his mandate as a member of the supervisory board of the Bank of Estonia was suspended. Andres Sutt's mandate as a member of the Riigikogu was renewed on July 19, 2022. In connection with this, Andres Sutt's mandate as a member of the Bank of Estonia's supervisory board was also renewed," wrote Võrklaev.

When Sutt took up the post of minister of entrepreneurship and information technology in January 2021, Reform nominated Jürgen Ligi to replace him on the national bank's supervisory board, which contains representatives of the parties in the Riigikogu as well as financial and economic experts.

The Bank of Estonia's current supervisory board members are Jaanus Karilaid (Center), Jürgen Ligi (Reform), Ivari Padar (SDE), Sven Sester (Isamaa) and Jaak Valge (EKRE), alongside experts Ivi Proos, Enn Listra, Rein Minka and Urmas Varblane.

Mart Laar's term as chairman of Bank of Estonia's supervisory board is due to end on June 12, 2023.

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Editor: Michael Cole

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