NO AGREEMENT WITH IMF POSES RISKS

Views on BG | October 10, 2001, Wednesday // 00:00

Opinion of Stoyan Alexandrov, CEO of Tokuda Credit Express Bank and former Bulgarian Minister of Finance, published in PARI DAILY,

`I have always been categorical that Bulgaria needs an arrangement with the International Monetary Fund /IMF/, as a form of support for the balance of payments and as a form of guarantee for the foreign investors. Lacking an arrangement now, when a new government assumed office, will generate risks. On the other hand, no one should be quick to express disappointment that it was not achieved during the Fund`s first mission to Bulgaria. This is rather a normal outcome when the negotiating sides want to reach a consensus. And I congratulate the government for their willingness to sit at the negotiating table. From the IMF point of view, the Union of Employers is just Mister Nobody. An arrangement will be based on the intentions of the Bulgarian government. Forwarding memos to various institutions is futile and can hardly be regarded as helpful.

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