The Bulgarian National Bank determined a record low 2,24% base interest rate for July 2009.
Bulgaria needs EUR 16,5 B for completing or modernizing its infrastructure.
Bulgaria is having informal discussions with the International Monetary Fund over the growing negative effects of the global financial crisis.
The interest rates of bank credits in Bulgaria will not decreased until the end of 2009.
Politicians, who call for an urgent deal with the International Monetary Fund, should not forget that if a healthy country asks IMF for help, then the market decides that the condition of the country is much worse than they thought before.
Bulgaria's gross foreign debt totaled EUR 36.6 B at the end of April, marking an increase by EUR 127 M on the month, central bank data showed.
The international credit rating agency Fitch has increased the support rating of Bulgaria's First Investment Bank (FIB) from 5 to 3.
The Bulgarian Socialists, who lead the three-way government, has taken a stance against the call of the opposition rightist GERB party, tipped to win a July 5 parliamentary election, for an urgent deal with the International Monetary Fund (IMF).
Bulgaria is in close contact with the International Monetary Fund on a possible emergency funding deal, but any major policy decisions are likely to wait until after the July 5 general election, Bulgarian prime minister said in an interview with Dow Jones
The leader of Bulgaria's center-right opposition party, which is expected to win the upcoming general elections, has called for the immediate signing of an agreement with the International Monetary Fund (IMF) in a bid to secure financial stability.
Bulgaria's current account deficit continued to shrink during the first four months of the year and stood at EUR 1,069 B or 5% of GDP at the end of April 2009 year-upon-year, data showed on Friday.
Given Bulgaria's large external debt and current-account deficit, the Economist Intelligence Unit (EIU) has assumed that the country will require some financial assistance from the IMF and the EU.
The global economy is not over the worst of the recession, Erik Berglof, chief economist at the European Bank for Reconstruction and Development, said.
The European Central Bank (ECB) governor Jean-Claude Trichet, who is on a visit in Sofia, has taken a stance against the immediate introduction of the euro, saying it is crucial that requirements are met first.
Bulgaria doesn't need to turn to the International Monetary Fund for emergency funding, Finance Minister Plamen Oresharski told Dow Jones Newswires in an interview.
Bulgaria, together with Latvia, Estonia and Lithuania, are trapped with currency pegs at over-valued rates, implying harsh deflation, the Daily Telegraph wrote in an article about the global recession.
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