IMF staff want ‘clear mandate’ for next Bulgarian governor

Ivan Iskrov, Bulgarian National Bank

With Ivan Iskrov's term set to expire in October, the next Bulgarian National Bank (BNB) governor should be handed a "clear mandate to support a strong, independent and accountable" central bank, International Monetary Fund (IMF) staff said today.

This would help restore supervisory credibility, they said, at the conclusion of an Article IV consultation that pointed to "weaknesses" exposed by the failure of the country's fourth-largest bank in 2014.

The past year was a difficult one for the BNB

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