IMF AGREEMENT LACK TO THREAT FOREIGN DEBT SERVICE

Business | October 2, 2001, Tuesday // 00:00

`Bulgaria might default on its foreign debt, if the negotiations with the International Monetary Fund (IMF) are unsuccessful,` experts commented, quoted by Dnevnik Daily. Among these experts are professor Ivan Angelov from the Bulgarian Academy of Sciences and professor Petkan Iliev from the University of National and World Economy. It is also possible that in that case, the reserves of the Bulgarian National Bank are spent and the currency board is destabilized because of huge foreign debts payments, according to the experts. These possible problems will eventually lead to a default on Bulgaria`s foreign debt.

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