Governor of Bulgarian National Bank resigns
Xinhua, June 23, 2015 Adjust font size:
Ivan Iskrov, Governor of the Bulgarian National Bank (BNB), sent Tuesday a resignation letter to the country's parliament because of the approaching expiry of his mandate, BNB said in a statement.
The law specifies the period from July 10 to August 10 as the time frame for electing a new governor who would assume office from October 10, 2015, the statement said.
The letter will facilitate and step up the process of electing a new governor of the Central bank and his taking office immediately after election, without being necessary to wait until the current term of office expires on October 10, 2015, the statement said.
Iskrov took office as the BNB Governor in October 2003 and was re-elected by the National Assembly for a second six-year term.
He was repeatedly urged to resign since June 2014 amid the crisis with Corporate Commercial Bank, the fourth largest bank in Bulgaria, which eventually led to its bankruptcy. Endit