Bulgarian National Bank to Launch First Euro-Denominated Gold Coins in 2026
The Bulgarian National Bank (BNB) will begin issuing commemorative coins in euros starting next year
Bulgaria’s Finance Minister Vladislav Goranov has suggested that a decision on appointing a new Governor of the Bulgarian National Bank (BNB) should be in place by end-April.
Goranov, as cited by the Bulgarian National Radio, made clear Friday that the two candidates whose names were already in circulation, Dimitar Radev and Nikolay Gorchev, both of them officials of the International Monetary Fund (IMF), were good options for successors of incumbent Ivan Iskrov.
He added that talks were underway with other candidates too and that no MP would be appointed BNB Governor.
He assured that the issue would be approached carefully and that the candidates would be studied rigorously.
Goranov declared that the nomination would be discussed in Parliament as soon as the ruling coalition and, possibly, opposition parties, reached agreement on the candidate.
Bulgaria’s Finance Minister underscored that it was important for the government to have a reliable partner in the face of BNB, while the political parties wanted for BNB to have a professional staff that would not allow a recurrence of “unfavorable developments.”
Iskrov has been repeatedly asked to resign after the closure of Corporate Commercial Bank (KTB, Corpbank) in June 2014 following a run on deposits, according to reports of mediapool.bg.
Stressing that he could not leave BNB without a Governor at such a tough moment, Iskrov promised to resign as soon as Bulgaria’s Parliament had chosen his successor.
Iskrov’s term in office expires in October.
The Bulgarian National Bank (BNB) projects that Bulgaria’s real GDP will continue expanding steadily over the coming years
Two leading global credit rating agencies, Fitch Ratings and S&P Global Ratings, have raised Bulgaria’s long-term foreign currency credit rating to ‘BBB+’ with a stable outlook, marking the highest level in the medium investment-grade tier
The adoption of the euro inevitably brings a degree of unease and uncertainty, much like the introduction of the currency board in the 1990s
Loan interest rates in Bulgaria are expected to stay stable even after the transition to the euro
The Ministry of Finance has introduced an online currency conversion calculator, now available on the official euro adoption website for Bulgaria - evroto.bg
The Bulgarian National Bank (BNB) is launching the minting of Bulgarian euro coins this week
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