Merrill Lynch investment bank does not currently recommend purchases of Bulgarian Brady bonds (Bulgarian foreign debt T-bills) due to the unclear political situation on the eve of the general elections, scheduled for June 17, 2001 in Bulgaria. The bank`s Emerging Markets Department focuses on the economic programme of Simeon II National Movement (set up by Bulgaria`s ex-monarch Simeon II). The bank`s experts said that the programme is closely connected with the arrangements Bulgaria has with the IMF. Merrill Lynch paper assesses as positive the possibility for a coalition between the incumbent Union of Democratic Forces (UDF) and the Monarch`s movement.