Bulgaria does not need to sign an agreement for financial support from the International Monetary Fund (IMF)at the moment.

This was announced Saturday morning by Bulgaria's future Financial Minister, Simeon Djankov, in an interview for Darik Radio.

In his words, one of the first things to do after the government starts working, along with the actualization of the budget, is to invite the IMF to analyze the budget incomes and expenses for 2009 and 2010.

Based on this outside audit, have the budget incomes and spending clear, in February ot March 2010, when the direction of the economy is clear, too, there may be a loan from the IMF.

"According to me there is no need for a loan from the IMF at that moment", Djankov said.

Until November it will be decided whether Bulgaria can meet the requirements for the ERM2, the first stage of the acceptance to the Eurozone, he added.

"We have to be close to the end of the year, because all the results are being estimated on yearly bases. I think that in November we may file a preliminary application for initiating negotiation for acceptance in the Euro area. There are four to six months of technical work, and after that we will have annual economic results, with which, if we meet the requirements the process of acceptance will start really fast", Djankov explained.

The currency peg will remain active in Bulgarian until entering the Eurozone, and the fixed exchange rate between EUR and BGN will remain the same.

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