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. Last Updated: 07/27/2016

Bank Chief Proposal Anticipated

President Boris Yeltsin is expected to propose a candidate for head of the Central Bank to the State Duma on Wednesday, a senior Duma official said Monday.

Alexander Pochinok, deputy chairman of the Duma's Budget Committee, said the president will likely propose only one candidate. He did not say whether the Central Bank's acting chairwoman, Tatyana Paramonova, will be nominated.

Paramonova -- who has headed the bank since October -- was rejected by the Duma on July 19. Paramonova is eligible for nomination only one more time.

According to the law On the Central Bank, the president must propose a new -- or confirm the previous -- candidate within two weeks if the first candidate was not accepted.

However, according to Pochinok, with the exception of Paramonova, all other potential candidates have declined the position.