Bulgarian National Bank Governor Submits Resignation Letter, to Step Down on July 10

Finance | June 23, 2015, Tuesday // 13:43|  views

Bulgarian National Bank (BNB) governor Ivan Iskrov. Photo: BGNES

The governor of the Bulgarian National Bank (BNB) Ivan Iskrov submitted his resignation letter on Tuesday, announcing that he will step down on July 10.

The letter, which is in line with the forthcoming end of Iskrov's mandate that expires on October 10, is addressed to the speaker and the members of the 43rd National Assembly.

The Law on BNB stipulates the period between July 10 and August 10 as a time frame for the election of a new governor, who is to assume office on October 10.

Iskrov insists on his successor to assume office as early as July 10 and calls for avoidance of political and party disagreements over the election process.

According to him such disagreements could lead to a failure of the election process and could negatively affect the institutional authority of the National Assembly and BNB.

This will facilitate and speed up the election process and the inauguration of the successor immediately after the election without having to wait for the expiration of the current mandate until October 10.

Iskrov calls on the MPs to ensure a prompt election, which fully complies with the legislative procedures and deadlines.

According to Iskrov, his successor should swiftly complete the governing team of BNB by proposing without any delay suitable nominees for deputy governors of the Issue and Banking Supervision departments.

The law provides for the National Assembly to elect the deputy governors, who are in charge of the main departments, on the proposal of the governor.


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Tags: election, Governor, resignation, Ivan Iskrov, BNB, Bulgaria, National Assembly


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