Ivan Iskrov, governor of the Bulgarian National Bank (BNB), sent his resignation letter to the country’s parliament on Tuesday.
A statement quoted Iskrov as saying his decision to step down was based on the approaching expiry of his mandate.
Iskrov’s letter would facilitate and step up the process of electing a new governor of the central bank.
The law specifies July 10 to August 10 as the time frame for electing a new governor who would assume office from October 10.
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He took office as the BNB governor in October 2003 and was re-elected by the national assembly for a second six-year term.
Iskrov had been under pressure to resign since June 2014 following the crisis with Corporate Commercial Bank (CCB), the fourth largest bank in Bulgaria.
The crisis eventually led to the bankruptcy of CCB.
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