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IMF adviser takes over management of Bulgarian National Bank

Xinhua, July 14, 2015 Adjust font size:

Dimitar Radev, the current advisor at the International Monetary Fund (IMF), was elected on Tuesday by Bulgarian parliament to be governor of the Bulgarian National Bank (BNB) instead of Ivan Iskrov.

Radev, 59, was Bulgaria's deputy minister of finance from 1992 to 2001, and has since been working for the IMF.

Iskrov resigned in late June because of the approaching expiry of his second consecutive six-year term.

Iskrov 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