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Simor seeks reconciliation after attacks, stands by mandate

National Bank of Hungary governor András Simor in a statement on Sunday pressed for reconciliation with Hungary's next Fidesz government after becoming “part of a political campaign”.

“The central bank is doing its job and will continue its professional work - for which it is offering cooperation with the Government of the Republic of Hungary, while guarding its independence - for the next three years, as long as my mandate lasts,” Simor said.

Simor was harshly criticized by top Fidesz officials last week because of an offshore company. Party chief Viktor Orbán said the central bank should not be a “shelter for offshore knights”, and deputy head Zoltán Pokorni said Simor should resign.

Simor acknowledged he had owned a company registered in Cyprus to invest revenue generated abroad before his appointment as central bank governor.

“The company never received any transfers from Hungary, nor did it have any Hungarian clients. Three years ago, when I was appointed, I made a public declaration on my share in the business,” Simor said in the statement.

Simor said he sold the company upon his appointment and put the proceeds into Hungarian investment funds in order to “save the National Bank of Hungary from becoming the target of unfounded political attacks”.

“Maintaining public trust in national institutions and the tax system is our joint responsibility and one of the foundations of economic stability,” Simor said. (MTI-Econews)