The representatives of the International Monetary Fund (IMF) were not informed about the foreign debt restructuring, carried out by the government, IMF representative to Bulgaria Piritta Sorsa announced. According to the Bulgarian weekly Capital, in September 2001 the government bought back Bulgarian discount Brady bonds (DISCs) worth USD 46 ? USD 48 M. The weekly writes that the deal was financed with USD 88 M credit from the Bulgarian bank Bulbank. The deal is part of a larger operation for debt restructuring, officials from the Finance Ministry announced, quoted by Dnevnik daily. The buy- back is of considerable importance since the Cabinet does not have the approval of the Parliament to use budget funds for such purposes, the daily commented.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!