The Norwegian had been elected for a second term as head of Europe’s governing body in April 2019 but suffered a stroke in March and died in Oslo four months later.

Karamarinov, in line with the European Athletics Constitution, had assumed the President’s role when the 74-year-old Hansen was first taken ill which left the latter unable to perform the duties of his position.

There is now due to be an election in October 2021 where the winner will complete the rest of Hansen’s term, due to conclude in April 2023.

“It’s my obligation to fulfil the full mandate of Svein," the 62-year-old Bulgarian told insidethegames at the conclusion today of the 160th European Athletics Council meeting, which was held online.

"I will definitely stand and hope the members will support me.

"My aim will be to complete Sven’s term.

"It is too early to talk about 2023 yet."

Karamarinov was first elected to the European Athletics Council in 2007.

After two terms as a Council Member he was elected as first vice-president in 2015.

Over the next four years, he worked closely with Hansen who had been elected as President at the same Congress, to help deliver the five-part agenda outlined in Hansen's Leading Change document.

Karamarinov was formerly a coach and has a post-graduate degree in sports management.

He is the President of the Bulgarian Athletics Federation and the Association of the Balkan Athletic Federations.

Karamarinov will be able to campaign on the platform of a strong financial position as European Athletics has not been as badly hit by the coronavirus pandemic as many other federations.

That is mainly because of an insurance pay out following the cancellation of the European Championships, which had been due to take place in Paris between August 25 and 30.

The Local Organising Committee had reported last year that their budget for the event was €17 million (£15 million/$20 million), although Karamarinov claimed a confidentially clause meant he could not disclose the exact amount that European Athletics had received.

"Our financial situation is very stable," Karamarinov said.

“We are not facing the difficulties of many federations because of the coronavirus.

“We got compensation after Paris was cancelled – it was nearly 100 per cent of the costs.”

It has meant that European Athletics has been able to continue to fund national governing bodies, and there are even plans to increase how much they distribute.

"The compensation has allowed us to continue the funding of our support programme," Karamarinov said.

"It is guaranteed until 2022 and next year we will increase the amount of funding we offer."