The country will not be hit by the global crisis

"The Bulgarian National Bank governor has ambitiously stated that the country will not be hit by the global crisis due to the stability of the banking system. “Despite the heavy global crisis all around the world, the Bulgarian economy and the citizens have and will escape unhurt,” Ivan Iskrov said. “Bulgaria's banking system is extremely well capitalized with the capital adequacy ratio standing at more than 17%. The banks stage good performances and have big enough buffers,” he added. In his words the currency board regime is in very good state with its coverage in foreign exchange reserves standing at more than 211% and continuing to increase".

Darik Radio

Sorry to disagree Mr. Governor. The country has already been hit and I know of some companies with large problems at hand for which banks have not provided for. My impression is that from the banking point of view, the crisis has not startet yet.