вторник, 23 юни 2015 г.

Reuters: Bulgaria's central bank governor to quit in July, smooth transition seen

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By Angel Krasimirov

SOFIA, June 23 (Reuters) - Bulgarian central bank Governor Ivan Iskrov will resign on July 10, three months before the end of his term, he said on Tuesday, paving the way for smooth transition of power in a move welcomed by markets.
The search for a new governor is already under way in Bulgaria following the 2014 collapse of Corporate Commercial Bank (Corpbank), which triggered the biggest banking crisis in the Balkan country since 1990s.
The murky circumstances surrounding the failure of the country's fourth largest lender prompted a struggle to restore trust in Bulgaria's financial system and the central bank. Iskrov's bank was widely blamed for the collapse of Corpbank.
"I sincerely hope that any political controversy and partisanship that could frustrate the election within the defined period, will be avoided," Iskrov wrote to Bulgarian lawmakers.
Bulgaria's banking association has long urged parliament to appoint a new governor to allow proper preparation for health checks of the country's lenders in early 2016.
Preliminary hearings are now scheduled for Wednesday, and parliament is expected to vote on a successor on July 10.
Iskrov had repeatedly said he was prepared to resign once parliament agreed on a replacement. Last year, he accused lawmakers of using the central bank as a "political toy" as the crisis unfolded before elections.
"The move was expected and understandable, though it was late given the spectacular collapse of Corpbank," said Daniel Smilov, a political analyst at the Centre for Liberal Strategies.
"Now, it's important that a worthy man be chosen as a new governor as people are still waiting for the right analysis and answers, related to the Corpbank's failure."
A favourite for the post is Dimitar Radev, a senior economist with the International Monetary Fund, whose nomination is backed by the ruling centre-right GERB party and their junior partners, the Reformist Bloc. (Writing by Radu Marinas; Editing by Larry King)

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