IMF AGREEMENT FOR USD 300 M EXPECTED TO BRING STEADY GROWTH

Business | December 13, 2001, Thursday // 00:00

In the next two years, Bulgaria will receive USD 300 M, allotted in nine tranches under the new agreement with the International Monetary Fund, Finance Minister Velchev announced after the end of the third round of the negotiations between the Bulgarian Government and the IMF. For the first time, the agreement’s concrete parameters were not made public. According to Velchev, the fact that changes in the Global Economy may take place before the signing of the agreement in February may result in some changes in the agreement. Jerald Schiff, Head of the IMF mission to Bulgaria expressed his belief that the Cabinet will provide for fast and steady economic growth and improvement in the living standard in all classes of the Bulgarian community. According to him, it is very important that the Bulgarian Government manages to reduce the state vulnerability to current and future changes in the global economy, as well as the preservation of the Currency Board in its present steady status.
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