Bulgarian National Bank

The election of a new Governor of the Bulgarian National Bank (BNB) should be completed as fast as possible, according to Petar Andronov, Chair of the Association of Banks in Bulgaria.

The term in office of the current BNB Governor, Ivan Iskrov, expires in October.

Bulgaria's Prime Minister emphasized Bulgaria's progress in the fight against corruption and the informal economy and the efforts of the government to guarantee financial stability at a meeting with representatives of the International Monetary Fund (IMF) and the World Bank in Sofia.

A new type of counterfeit banknotes of BGN 2 (EUR 1) issue 2005 has been spotted, Bulgaria's central bank warned on Friday.

The holographic band, which is the basic security feature of a banknote most often checked in circulation, is fake with its optical effects resembling those of genuine banknotes to a great extent.

Industrial Holding Doverie AD, a subsidiary of Doverie Obedinen Holding AD, has signed a preliminary contract for the acquisition of 99.53% of the capital of Tokuda Bank AD, according to an official media statement of the company.

Bulgaria is facing a shortage of ballots for this autumn's local vote to be held across the country, officials have warned.

The printing house with the Bulgarian National Bank (BNB) and the others licensed to print ballots will not be able to provide enough papers for the elections, and only 8-9 million will be available.

MPs met on Tuesday the first nominee for governor of the Bulgarian National Bank (BNB) - Dimitar Radev.

Radev is currently working as an adviser at the International Monetary Fund (IMF) and has more than 20 years of experience in the Finance Ministry, twice having served as deputy minister.

European Commission Vice-President Kristalina Georgieva advised Bulgaria to introduce a transparency register similar to that established by the EU.

Georgieva pointed that the Commission introduced a transparency register this year and if a Commissioner is meeting a private organisation or NGO it has to appear on the register.

Bromak EOOD, the majority owner of insolvent Corporate Commercial Bank (KTB), is lodging a complaint with what it calls "another gross violation of national and EU law", the company says in a statement.

Bromak EOOD, the majority owner of collapsed Corporate Commercial Bank (KTB or Corpbank) and its executive officers are appealing last week's court ruling which declared the bank insolvent.

This was revealed by Menko Menkov, a lawyer for Bromak which is owned by Bulgarian businessman Tsvetan Vasilev.

Bulgaria's gross external debt exceeded EUR 38.6 B at the end of February, representing 90.6 % of the country's GDP.

This was a decrease of more than EUR 1 B or 2.8 % compared to the end of 2014, the Bulgarian National Bank (BNB) informs.

The gross external debt at the end of February increased with more than EUR 1.6 B or 4.5 % compared to the same month in 2014.