Born on June 14, 1945 in Berkovitsa, Montana district. Married, has two sons.
Graduated in Computational Mathematics and Programming from Sofia University St. Kliment Ohridski" 1967. Post-graduate studies at Saint Anthony college in Oxford and at the Federal Reserve of the USA. Worked as an expert and chief expert in the State Committee on Planning 1967-76. Consultant to the director of the Bulgarian National Bank (BNB) 1976-77. Director in charge of banking service of territorial units in BNB 1977-79. General Director for credit planning in BNB 1979-84. Member of the Board of Directors of the International Bank of Economic Cooperation, Moscow 1984-89. Member of the Board of Directors of the International Investment Bank. Head of the Bank Foreign Economic Relations department of BNB 1989-90. Head of the "Bank Regulators and Analyses" department of BNB 1990-91. Member of the Governing Board of BNB since 1991. Head of the National Currency Operations department of BNB 1991-95. Vice-governor of BNB Sept.1994-Jan.1996.
Governor of BNB since Jan. 1996 - approved for a full 5-year mandate in June 1996.