Latvian banking chief will not resign following bribery probe

The head of Latvia's central bank has said he will not resign following an investigation into suspected bribery.

Ilmars Rimsevics, who is also on the European Central Bank's top policy-making council, said he had "made a decision not to step down because I am not guilty".

The Associated Press reported that the chairman of local Latvian bank Norvik, Grigory Guselnikov, said Mr Rimsevics had asked for bribes since 2015.

At a news conference, Mr Rimsevics said "my retreat would allow a man like Guselnikov to triumph".

Mr Rimsevics was detained on Saturday and released two days later on bail.