Sun, Nov 08 2009

Bulgaria c-banker appointed for second six-year term

Thu, May 28 2009 14:35 CET byAlex Bivol 2420 Views
Bulgaria c-banker appointed for second six-year term

Photo: Nadezhda Chipeva

Ivan Iskrov won a second term as the governor of the Bulgarian National Bank (BNB) on May 28 after 165 MPs voted in favour of his re-appointment. Iskrov's second term will start on October 10.

The early election has sparked controversy in Parliament, with opposition lawmakers boycotting the vote, saying that the ruling coalition was eagerly filling key public positions in the last week of Parliament's term.

Bulgaria's central bank law stipulates that the BNB governor appointment process has to start three months before the incumbent's term expires. Opposition MP Vesselin Metodiev, from the Democrats for a Strong Bulgaria party, said that in disregarding the law, Parliament set an unwelcome precedent.

Mladen Chervenyakov from the Socialist party, the senior partner in the three-way ruling coalition, countered by saying that when the three months period begins, on July 9, there would be no legislature to start the process. Bulgaria will hold Parliament elections on July 5.

Iskrov is known as a staunch supporter of Bulgaria's currency board agreement, which pegs the lev to the euro, but with all political parties strongly in favour of keeping the agreement in place until Bulgaria joins the eurozone, his task in defending the current framework has not been an honerous one.

During his six years in office, Iskrov has also used monetary policy to keep the lending boom manageable, with mixed success.

Write comment

Name:Comment:

Generate new code
Send your comment
Bulgaria central bank governor sworn in for second term

Ivan Iskrov, the governor of the Bulgarian National Bank, took the oath in front of Parliament on October 9 2009 and will begin his second six-year term at the helm of the central bank on October 10.

Much ado about nothing: Bulgaria c-banker set to get second term

Central bank governor Ivan Iskrov surprisingly submitted on August 20 a resignation letter for his second term in office, only to be nominated for the job again by the ruling GERB party later in the day.

Mr Safe

Bulgarian central bank governor’s re-election sparks opposition protest

Dealing the aces

Ruling majority rushes to make key appointments in state bodies days before the end of Parliament’s term

No worries about financial system, Bulgaria c-banker says

Bulgaria’s financial system and the central bank's balance sheet were in very good condition and there was no reason to worry about their health, Bulgarian National Bank (BNB) governor Ivan Iskrov has said.

No tax cuts

Government resists calls for lower payroll taxes as businesses warn that the tax burden will force them to lay off workers

More in this category

Bulgaria unemployment rate reaches 8.23% in October

Seven thousand people lost their jobs in October, labour minister says

EasyJet offers 30% promotional discount on all destinations

Once the promotional tickets are purchased during the discount window, they will be valid for the period January 4–March 30 2010

Long awaited repairs

Flannagan’s will be replaced by a French brasserie as part of a 10 million euro Radisson renovation

Mobile operator Globul reports 8.1% revenue drop in Q3

Globul has accumulated a profit of 139.1 million euro for the period January – September 2009, or a 0.3 per cent drop as opposed on last year’s results

Plotting the course

After 100 days in office, Finance Minister Simeon Dyankov pinpoints 10 key issues for Cabinet in ‘the next 100 days’

© 2000-2009, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.