Privacy Policy

Last updated: April 2026

1. Who We Are

Liquidity Desk is an independent macroeconomic research and content publication operated by Tihomir Bachvarov, based in Bulgaria, EU. Our website is available at liquiditydesk.org.

For privacy-related inquiries, contact us at: contact@liquiditydesk.org

2. What Data We Collect

Email Subscribers

When you subscribe to our newsletter, we collect your email address. This is the only personal data we collect directly. We do not collect names, payment details, phone numbers, or any other personal information.

Paid Subscribers

If you purchase a paid subscription, additional data is collected at the point of payment. This is handled directly by Stripe, Inc. (see Section 5). We receive only confirmation of your subscription status; we do not store your payment card details.

Technical Data (Server Logs)

Our hosting provider (Hetzner Online GmbH) automatically collects standard server log data when you visit our website. This may include your IP address, browser type, operating system, referring URL, and the date/time of your visit. This data is used solely for security and infrastructure purposes and is not used to identify or profile visitors.

3. How We Use Your Data

We use your email address exclusively to:

  • Send you our newsletter and research publications
  • Notify you of new content on Liquidity Desk
  • Manage your subscription status (free or paid)

We do not use your data for advertising, profiling, or any purpose other than delivering the content you subscribed for.

4. Legal Basis for Processing (GDPR)

Under the General Data Protection Regulation (GDPR), our legal basis for processing your email address is your explicit consent (Article 6(1)(a) GDPR), given when you subscribed to our newsletter. For paid subscriptions, processing is also necessary for the performance of a contract (Article 6(1)(b) GDPR).

5. Data Processors and Third Parties

We use the following third-party services to operate our publication:

  • Ghost Foundation (CMS platform) - powers our website and subscription management at liquiditydesk.org
  • Brevo (formerly Sendinblue) - used to send newsletter emails to subscribers. Brevo is an EU-based provider compliant with GDPR.
  • Hetzner Online GmbH - our hosting provider, based in Germany, EU.
  • Stripe, Inc. - used to process payments for paid subscriptions. Stripe collects and processes payment card data directly and is PCI-DSS compliant. Stripe acts as an independent data controller for payment data. See Stripe's Privacy Policy at stripe.com/privacy.

None of these processors sell your data. Each operates under a Data Processing Agreement consistent with GDPR requirements.

6. Data Retention

We retain your email address for as long as you remain a subscriber. If you unsubscribe, your email address will be removed from our active mailing list within 30 days. Payment and billing records associated with paid subscriptions are retained for as long as required by applicable law (typically 5 years for accounting purposes under Bulgarian law). Server log data retained by Hetzner is typically deleted within 90 days.

7. Your Rights Under GDPR

As a resident of the European Economic Area, you have the following rights:

  • Right of access - you can request a copy of the personal data we hold about you
  • Right to rectification - you can request correction of inaccurate data
  • Right to erasure - you can request deletion of your personal data
  • Right to restriction of processing - you can request we limit how we use your data
  • Right to data portability - you can request your data in a machine-readable format
  • Right to object - you can object to our processing of your data
  • Right to withdraw consent - you can unsubscribe at any time using the link in any email we send, or by contacting us directly

To exercise any of these rights, contact us at contact@liquiditydesk.org. We will respond within 30 days.

You also have the right to lodge a complaint with your local supervisory authority. In Bulgaria, this is the Commission for Personal Data Protection (CPDP): cpdp.bg.

8. Cookies

Please see our Cookie Policy for details on how we use cookies on this website.

9. Children's Privacy

Liquidity Desk is not directed at children under 16. We do not knowingly collect personal data from minors. If you believe a child has provided us with personal data, please contact us and we will delete it promptly.

10. Changes to This Policy

We may update this Privacy Policy from time to time. The Last updated date at the top of this page reflects the most recent revision. Continued use of this website after any changes constitutes acceptance of the updated policy.

11. Contact

Liquidity Desk

Email: contact@liquiditydesk.org

Website: liquiditydesk.org