Caretaker Government Faces “Raft of Problems” - Reuters
The caretaker government of law professor Georgi Bliznashki appointed on Tuesday “inherits raft of problems to sort out”, Reuters noted in its coverage of the news.
According to Reuters, the most pressing problem facing the caretaker cabinet is “the fate of Corporate Commercial Bank”, KTB. Bulgaria’s fourth-largest bank remains closed since June 20 following a run on deposits and political parties are in disagreement to “what extent the bank's depositors and bondholders will be protected in a possible state rescue”
Other problems include sluggish economic growth, a diplomatic row over the South Stream gas pipeline and a sovereign credit rating downgrade in June.
Last week, Reuters reported that holders of USD bonds at KTB are planning to sue the government if the bond defaults and KTB is tipped into insolvency.
- » The Monument of Buzludzha is Among the Seven Most Endangered in Europe
- » Bulgaria's Jobless Rate Edges Down m/m in Feb
- » Bulgaria Provides EUR 200,000 to Support Refugees from Syria
- » 8 Stations of the Third Metro Line will be Ready by Autumn 2019
- » 13 Municipalities are Facing Bankruptcy, 49% of the Spending goes to Salaries
- » Parliament will Discuss an Updated National Security Strategy