Bulgaria’s Parliament appointed Radoslav Milenkov as deputy governor of the Bulgarian National Bank in charge of bank supervision on March 22, with 115 votes in favour, none opposed or abstained.
Milenkov was previously head of the state deposit guarantee fund, a position he has held since November 2014. He replaces Dimitar Kostov, who announced his intention to resign as deputy governor on March 1.
Kostov said at the time that he had planned to resign in 2018 after “intensive work in the past few years and carrying out the bulk of the planned reforms”, but delayed his plans at the request of BNB governor Dimitar Radev, after Bulgaria applied last year for close co-operation with the European Central Bank (ECB), the first step towards joining the ERM II exchange rate mechanism.
On March 22, Parliament accepted Kostov’s resignation and appointed Milenkov, who took his oath of office in the National Assembly.
Milenkov said that main priority in the new position would be Bulgaria’s efforts to join the ECB’s Single Supervisory Mechanism. Bulgaria aims to join the EU banking union and the ERM II exchange rate mechanism, sometimes referred to as the euro zone’s “waiting room,” later this year.
(Radoslav Milenkov taking his oath of office in the National Assembly on March 22. Photo: parliament.bg)