NEW MEMBER IN BNB MANAGING BOARD
After two mandates and 7-year membership in the Managing Board of the Bulgarian National Bank (BNB) Prof. Georgi Petrov, 75, was relieved from his duties with honours. In the morning of June 3, 2004, President Georgi Parvanov handed him a 1st grade Balkan Range medal for his service to the economic science. A few hours later, at 12.00, his successor to central bank's managerial team, Assoc. Prof. Stati Statev, was sworn in in the Presidency. Mr. Statev was born in Bourgas in 1955 where he studied in the local English Language School, but eventually graduated from National Secondary School of Maths in Sofia. His first higher education was in the Karl Marx Higher Institute of Economics (now University for National and World Economy), and in 1984 he graduated in Mathematics from the St. Kliment Ohridsky University in Sofia. For long years he had been a lecturer in the Department of Political Economy at the Karl Marx Institute where he defended a doctor's degree and became an associate professor. In 1989-1990 Mr. Statev specialized at the Economics Department of the Boston University, USA.According to his colleagues, Mr. Statev is among the best macro-economists in Bulgaria. He is also one of the co-founders of the Vratsa-based branch of the University for National and World Economy, whose Director he is until now. From 1999 to 2003 he was dean of the General Economy Faculty of the same university. Presently, Mr. Statev is Deputy Rector of the higher educational establishment.Assoc. Prof. Statev is one of the three members of BNB's Managing Board who under article 12 of the BNB Act are appointed by the President. When the law was passed in April 1997, the then president Peter Stoyanov appointed to the post Prof. Georgi Petrov for one-year term, Prof. Garabed Minasyan with a 3-year mandate, and the Doctor of Economic Sciences, Roumen Avramov, for five years. In 1998 Prof. Petrov was re-elected for a second mandate with a 6-year term in office. Two years later, Mr. Minasyan was re-appointed for a mandate of the same length. In 2002 Mr. Avramov's mandate expired and President Parvanov appointed Nikolay Nenovsky to succeed him to the position, for a period of six years.