1979 - Lars Wohlin becomes Governor of the Riksbank

Wohlin stepped in with a strong influence over economic policy. He was met with challenges in the form of the wave of devaluations prevailing in his tenure.

Lars Wohlin was born in 1933 in Stockholm. He gained a PhD in economics from the Stockholm School of Economics in 1970. Before Wohlin became Governor of the Riksbank, he was Managing Director of the Research Institute of Industrial Economics and state secretary in Gösta Bohman’s Ministry of Economic Affairs.

As Governor of the Riksbank, Wohlin had to manage the wave of devaluations that prevailed in Sweden at the end of the 1970s and start of the 1980s (länk). He had great influence over economic policy in times when the Riksbank was struggling with a reduced current account and growing budget deficit.

At the start of 1981, speculation over the devaluation of the krona led to a currency crisis. In September, Wohlin persuaded the Government to devalue the krona by 10 per cent with the aim of improving the current account and preventing continued indebtedness.

Lars Wohlin stood down as Governor of the Riksbank in 1982.