Josef Tošovský
Josef Tošovský | |
|---|---|
| Born | September 28, 1950 Czech Republic |
| Occupation(s) | Economist, politician |
| Years active | 1973–present |
| Known for | Governor of the Czech National Bank (1993–2000), Prime Minister of the Czech Republic (1997–1998) |
Josef Tošovský () (born 28 September 1950) is a Czech economist notable for his tenure as governor of the Czech National Bank from 1993 to 2000. He also held the position of prime minister of the Czech Republic in a caretaker government between 17 December 1997 and 22 July 1998.
Career
Tošovský pursued studies in international trade at the University of Economics, Prague from 1968 until 1973. Upon completing his education, he joined the State Bank of Czechoslovakia, where he occupied several positions, including serving as an adviser to the chairman. During the 1980s, he was posted in London working at a branch of Zivnostenska Banka. In 1989, he was named Governor of the State Bank. After the breakup of the Czech and Slovak Federal Republic, he became the inaugural Governor of the newly formed Czech National Bank on 20 January 1993.
In his role as Governor, Tošovský played a key part in shaping and executing reforms within the monetary and banking systems. He spearheaded initiatives to create the legal and institutional foundations necessary for the central bank’s function in a market-oriented economy, overseeing currency management and central bank operations during the state’s division.
During the political turmoil in the Czech Republic at the end of 1997, President Václav Havel appointed Tošovský as Prime Minister. He resumed his responsibilities as CNB Governor on 22 July 1998 and stepped down from this post in November 2000. Since December 2000, he has been leading the Financial Stability Institute at the Bank for International Settlements headquartered in Basel, Switzerland.
In August 2007, Russia put forward Tošovský’s candidacy to replace Rodrigo Rato as Managing Director of the International Monetary Fund, challenging French nominee Dominique Strauss-Kahn. The Czech government quickly rejected this nomination, reaffirming its support for the EU-backed candidate.
State Security allegations
In January 2007, Mladá fronta DNES published allegations suggesting Tošovský had collaborated with Czechoslovak State Security. The Czech Office for Foreign Relations and Information (ÚZSI) denied that he engaged in deliberate cooperation. Subsequently, Mladá fronta DNES clarified that Tošovský’s involvement was limited to providing economic analyses for the agency and that he was not responsible for supplying information that resulted in arrests or legal actions.
Other activities
Tošovský holds an associate professorship at the University of Economics, Prague and has been awarded an honorary doctorate by Mendel University in Brno. His board memberships include roles at the Centre for European Policy Studies in Brussels, the Basel Committee on Banking Supervision, Financial Services Volunteer Corps based in New York, and the International Council of the Bretton Woods Committee located in Washington.
His accolades encompass Central Banker of the Year (1993), European Manager of the Year (2014), Karel Engliš Prize for Economics (1995), European Banker of the Year (1996), and EastWest Institute Award for Leadership in Transition (2001).
Tošovský is married and has two daughters.