Zhan Videnov

Zhan Vasilev Videnov ( _bg. Жан Василев Виденов) (born March 22, 1959) was the Prime Minister of Bulgaria from January 25, 1995 until February 13, 1997. Zhan Videnov graduated from the Plovdiv English Language School (ELS). He subsequently graduated in Foreign Economic Relations in Moscow. He was chairman of the Bulgarian Socialist Party (BSP) from 1991 to 1996.

During Videnov's term, Bulgaria experienced a severe economic crisis and declining quality of life. Corruption became emblematic of the era, with shady privatization schemes, violations of the UN embargo on Yugoslavia and inaction against organized crime groups, such as VIS-2, SIC and Multigroup. More than half of Bulgaria's commercial banks went bankrupt in 1996, with hundreds of thousands of people losing their savings. Simultaneously, uncontrolled government spending aimed at filling the gaps in growing budget and current account deficits led to hyperinflation, with the lev's value plummeting from 70:1 USD in early 1996 to 3,000:1 in early 1997, causing a sharp decline in purchasing power. Public services were severely underfunded, resulting in systemic deterioration and corruption. Emigration skyrocketed, particularly among young and educated Bulgarians. For the first time since the crisis of 1990, basic goods like bread became scarce, with the country's grain reserves near complete depletion by February 1997. Videnov's approach to international affairs was passive and indecisive, and the country found itself increasingly isolated.

With growing popular discontent, the BSP lost the November 1996 presidential elections by an almost 20% margin. Following the results, several chief members of cabinet resigned and joined the internal BSP opposition against the party leader. Videnov tendered his own resignation as both prime minster and chairman of the BSP on December 21, 1996, but stayed on as acting prime minister until a successor could be appointed. The discredited BSP attempted to form a new cabinet, provoking month-long street protests in big cities that culminated in a general strike. Bowing to popular pressure, BSP leaders eventually agreed to early elections and a caretaker cabinet headed by Stefan Sofiyanski took over on February 13, 1997. Videnov left politics and has not held other government positions since then.

Zhan Videnov is married and has one son. He speaks English, French, Russian and Arabic. He presently teaches at a private college in Bulgaria.

External links

* [http://www.government.bg/ Bulgarian Council of Ministers]
* [http://www.bsp.bg/ BSP]
* [http://www.els-plovdiv.com/ ELS]