KARINA KARAIVANOVA IS THE NEW HEAD OF BULGARIA'S FINANCIAL SUPERVISION COMMISSION

On 28th of July, Bulgaria’s Parliament appointed Karina Karaivanova as the Chairperson of the Financial Supervision Commission (FSC). 139 MPs voted in favour, 24 voted against and 11 abstained. She was the only candidate for the post, nominated by MPs from the centre-right GERB party.

Karaivanova joined the Ministry of Finance in 2003 and worked in the National Fund directorate. She was responsible for the EU funds before and after Bulgaria’s accession to the EU, relations with international financial institutions and management of the government debt.

From December 2012 to February 2013, Karaivanova was a Deputy Minister of Finance in the first cabinet of Prime Minister Boyko Borissov. Currently, she is also Deputy Minister of Finance.

Speaking to the media after the vote, Karaivanova said she would not carry out an audit of the work of the previous management of the FSC. She added that competition did not worry her. The new Head of the FSC noted that a priority in her work would be to complete the assessment and the quality of the assets of the pension companies. “The principles from which I will be guided in my work are impartiality and transparency and by September I must have a team to work with,“ she said.

Karaivanova will be replaced as Deputy Minister of Finance by Marinela Petrova, who is promoted from head of the directorate on economic and financial policy.

photo: BTA