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COVID-19 to delay Bulgaria’s accession to ERM II

Petar Andronov
Photo: BGNES

The Bulgarian banks are ready to defer credit contributions, the Chairman of the Association of Banks in Bulgaria Petar Andronov said. This is expected to happen after April 1 when the loan deferral procedure will be clear. The banks are working individually with each client, so they can get the best conditions to deal with the difficulties caused by the COVID-19 crisis, Petar Andronov says. The Bulgarian National Bank Governor Dimitar Radev wrote in a publication that Bulgaria is not giving up on the path towards the ERM II mechanism (the Eurozone’s waiting room) and the close cooperation with the banking supervision, but the key step in this direction will be perhaps delayed due to the COVID-19 crisis.




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