"Anti-central bank" central banker promoted

BULGARIA - A peculiar choice has been made to replace Roumen Avramov on the Bulgarian National Bank's board of governors.

The government has chosen the outspoken Professor Nikolay Nenovsky to take his place, who was head of the Monetary and Financial Analysis department until March 2002; but he is also a sworn enemy to the very concept of a central bank. Far from seeing central banks as the lubricant that allows for the smoother running of the wheels of the financial markets, he subscribes to

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