Bulgarian National Bank: Changing BGN-EUR exchange rate is impossible

"Changing the leva-euro exchange rate is impossible". This is stated by the Bulgarian National Bank to National radio after information about a report of the Ministry of Finance was spread on Wednesday. It is claimed that the document said there was a risk of a change in the exchange rate of the leva against the euro.

"There is no reason to change the existing exchange rate of the leva to the euro, and such statements are incompetent and irresponsible. The international currency reserves of the Bulgarian National Bank (which secure levs in circulation) are at their highest level for the last 30 years", the Bank told BTA.

The central bank also indicated that there were no talks between their representatives and those of the Ministry of Finance regarding a possible change of course.

At a briefing on Wednesday, the Minister of Finance Rositsa Velkova stated that "theoretically, there is also a danger for the currency board if an excess deficit is reached". 

Earlier today, Velkova backtracked on her statements and clarified that "there is no risk of bankruptcy of the state, nor of the intervention of the International Monetary Fund and the need to take out new debt."