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Fitch: Bulgaria, Croatia to Ask for IMF Help
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The Monetary Fund's role in the bank systems in the region has been growing in order to prevent future financial crisis", Edward Parker from Fitch said. File photo
Bulgaria and Croatia are likely to ask for an emergency financial help the International Monetary Fund (IMF) over the negative effects of the global financial crisis.
The international rating agency Fitch released Friday a report, suggesting that both countries will need help to fill financial holes.
The report also says that Bulgaria, Croatia, Lithuania, and Macedonia have been facing an enormous decrease in foreign investment, which will eventually lead to the need of IMF's help.
"The Monetary Fund's role in the bank systems in the region has been growing in order to prevent future financial crisis", Edward Parker from Fitch said.
The agency confirmed Bulgaria's BBB credit rating for both foreign and national currency obligations in April. Then Bulgaria's credit rating perspective was lowered from stable to negative.
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