Kostov, Ivan

Kostov, Ivan (1949- ), Bulgarian economist politician, Prime Minister of Bulgaria (1997-2001). Born in Sofia, Kostov was educated at the William Gladstone Secondary School in Sofia, and the University of National and World Economy, Sofia, where he graduated in economics in 1974. He later did further study in mathematics at the University of Sofia, graduating in 1982, and gained his doctorate in economics in 1984. By 1989 he was assisting the Union of Democratic Forces (UDF) as an expert adviser, and in 1990 he was elected to the Bulgarian parliament. From 1991 he served as Minister of Finance under successive governments. In 1993 he became vice-president of the UDF parliamentary group, and in 1994 he was made president of its National Coordination Council. President of the UDF from 1997, Kostov became prime minister after the general elections of April of that year. In office he concentrated on improving Bulgaria’s economic stability and introducing free-market reforms.

Kostov successfully negotiated the end of a long-running border dispute with Turkey before, in January 1998, becoming the first Bulgarian premier to visit Germany since 1944. In August 1998 the government finally demolished the mausoleum of Georgi Dmitriov in Sofia, removing what was described as 'a symbol of totalitarianism'. In November 1999 Kostov finally conceded to the closure of four Soviet-style nuclear reactors on the grounds of safety in return for talks on European Union membership, despite fears that the closures would impact upon Bulgarian competitiveness. The government survived a vote of no confidence in May 2000 over the continued allegations of corruption among senior ministers, which had led to several resignations from Kostov’s Cabinet. Despite this, a tax-cutting budget in September, continued control of inflation, and the fact that Kostov’s government was the first in the post-Communist era to serve its full four-year term meant that the government remained on course to be re-elected in elections called for June 2001. Surprisingly the government went down to a heavy defeat inflicted by a new political party formed by the former king of Bulgaria, Simeon II. Kostov later resigned his leadership of the UDF.