German Creditor Froze Bulgaria's State Railway Accounts

The German financial institution FMS Wertmanagement froze the bank accounts of the Bulgarian State Railways (BDZ Holding) because of default.

The default is on bonds for EUR 11 M, said the BDZ head Hristian Krastev.

According to him Germany insists that the BDZ debts problem be solved on government level and want a meeting with Bulgaria's Prime Minister Plamen Oresharski, Finance Minister Petar Chobanov and Transport Minister Danail Papazov.

The meeting is due to be organized in the next two weeks. Currently BDZ has debts totalling BGN 150 M.

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