Karlis Bauze

Senior Financial Sector Specialist, FinSAC, The World Bank

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Karlis Bauze is a Senior Financial Sector Expert at FinSAC, specializing in non-performing loans (NPL). Prior to joining the World Bank in 2016, he was a Policy Analyst at the European Commission (EC) in Athens, Greece and was an EC representative at the Hellenic Financial Stability Fund (Executive Board and General Council). He actively participated in the work of the EC financial team, in cooperation with the International Monetary Fund (IMF) and European Central Bank (ECB), by drafting and working on the Greek economic adjustment program for three years (2013-2015). Prior that he headed the Monetary Policy and Financial Stability Department at the Bank of Latvia (central bank) for five years, including at the time of the financial crisis in Latvia and resolution of the largest commercial bank in the country.

During this assignment, he (i) actively participated in the work of the Governor’s Office, (ii) represented Latvia on the Economic and Financial Committee of the European Union (the Sherpa committee for European Finance Ministers’ Economic and Financial Affairs Council (ECOFIN), (iii) worked on the economic adjustment program of Latvia (no currency devaluation but internal devaluation – structural reforms), and (iv) contributed to financial stability work in Latvia. Earlier, he spent more than 13 years working on financial markets and was Chief Dealer for reserve management at the Market Operations Department of the Bank of Latvia. He holds a Master’s Degree in Finance from the University of Latvia and has passed the CFA exam.