site.btaCentral Bank Governor to Resign July 10, Calls for Fast Election of Successor

Central Bank Governor to Resign July 10, Calls for Fast  Election of Successor

Sofia, June 23 (BTA) - Bulgarian central bank governor Ivan
Iskrov has sent a message to Parliament urging speedy election
of his successor so that he can give up his office on July 10,
the Bulgarian National Bank (BNB) said in a statement for the
press Tuesday.

The message recalls that the law sets a legal framework of one
month, from July 10 to August 10, for the election of a new
central bank governor so that he can take office as of October
10, 2015.

Iskrov insists that his successor should be ready to take office
at the earliest possible date, July 10, and calls for leaving
aside "all political differences and party bickering" that might
thwart the election of a new BNB governor and undermine the
image of Parliament and BNB.

Iskrov has been under strong pressure from all parts of the
political spectrum to come down over the way in which the
central bank handled - or mishandled - the situation with the
failure of the Corporate Commercial Bank last year. He has
denied any responsibility in the Corpbank case and repeatedly
said he would come down in due time and after Parliament find
him a successor.

In his statement to Parliament, Iskrov says that the future
central bank governor must nominate without delay "suitable
candidates" for vice governors and heads of Issue Department and
Banking Supervision Department.

By law, the BNB vice governors are elected by Parliament on a
proposal from the central bank governor.