The Bulgarian Entrepreneur Tzvetan Vassilev is No Longer Wanted by Interpol
The defendant Tsvetan Vasilev is no longer wanted by Interpol, the information was confirmed for BTA by Vasilev's lawyer Konstantin Simeonov
Two Bulgarian and two local banks have been chosen to provide a bridge loan worth EUR 1.3 B, two sources have told Reuters.
The country has picked Citi, HSBC and local units of Societe Generale and Unicredit, the sources, reportedly familiar with the process, are quoted as saying on the condition of anonymity.
According to their estimates the four banks have been chosen to provide EUR 1.3 B.
This is exactly the sum (equal to BGN 2.54 B) that the Finance Ministry reported last week to be the total sum of offers received on a bridge loan that Bulgaria needs to amend the budget, without elaborating.
This time the Finance Ministry has declined to comment on the banks' names, the information continues.
Sofia needs a total of BGN 4.5 B (EUR 2.3 B) to deal with a billion-worth budget cap for this year and also with the aftermath of a decision to declare Corporate Commercial Bank (KTB) insolvent.
The fresh borrowing will boost Bulgaria's public debt to 28.4 percent of GDP compared to 18 percent in 2013.
Parliament allowed the country last week to negotiate on a foreign loan of up to BGN 3 B to cover the gap at the Bulgarian Deposit Insurance Fund (in charge of repaying deposits at KTB from December 4) and to tackle the shortfall in the income statement.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
According to the latest data released by the National Statistical Institute, Bulgarian household incomes experienced a remarkable surge in 2023, reaching an average of BGN 10,846 per household member.
The National Statistical Institute's latest report unveils a marginal annual increase in the income of Bulgarians in 2023 compared to their expenses, marking a reversal of the trend observed in 2022
In a recent interview on Nova TV, former Minister of Economy Bogdan Bogdanov expressed skepticism regarding Bulgaria's prospects of entering the Eurozone at the outset of 2025
The path to Eurozone accession for Bulgaria may see a significant milestone in 2025, albeit not at the outset of the year, according to Dimitar Radev, the governor of the Bulgarian National Bank (BNB)
Amidst discussions about Bulgaria's journey towards joining the Eurozone, Deputy Governor of the Bulgarian National Bank (BNB), Petar Chobanov, highlighted the robustness of Bulgaria's banking system, stating it aligns closely with Eurozone standards
In a recent interview with BTA, Kristalina Georgieva, Managing Director of the IMF, emphasized the importance for Bulgaria to seize the opportunity to adopt the euro, stressing that it is achievable with the right political will
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022