BULGARIA’s CENTRAL BANK GOVERNOR IN AN EXCLUSIVE INTERVIEW FOR BNT

It is not up to the Bulgarian National Bank (BNB) to make decisions on how to spend taxpayers’ money for the rescue of Corporate Commercial Bank AD. The next government and parliament should decide on whether to use taxpayers’ money to re-open CorpBank, said the BNB Governor, Ivan Iskrov, in an exclusive interview for the Bulgarian National Television (BNT).

The BNB Governor said that the only and increasingly theoretical option would be the current shareholders to transfer 3,6 billion BGN into the central bank's accounts, and provide the necessary capital for re-opening of the CorpBank.

The Oman fund from the very beginning until the appointment of EPIC as an advisor propose to use state support for a potential recovery of the bank. The decision cannot be made without the politicians and the next government. The Central Bank’s Governor said that it was not BNB’s fault for the crisis and commented that it worked hard to try to find solutions to the problem.

BNB considers that such a large lender as CorpBank should be recovered as quickly as possible, Iskrov stated.

He refused to comment the words of the CorpBank majority shareholder, Tzvetan Vassilev, who recently said that Iskrov is one of the puppets in the whole situation.

I will comment if there are specific facts, Iskrov added.