Business | February 17, 2002, Sunday // 00:00

Bulgaria should preserve the Currency Board Arrangement (CBA) former President Stoyanov economic adviser Steve H. Hanke said in an interview published in the new issue of magazine “TEMA.” According to him Bulgaria should not fear of developments similar to the ones in Argentina since Bulgaria is under Currency Board at the moment while Argentina went out of CBA last year. Numerous discussions took place in Bulgaria after Argentina’s economy collapsed. One of the polls at concerned that issue. Then the majority of the readers who cast their votes supported the currency board in Bulgaria. To the question “Should Currency Board remain in Bulgaria?,” 71% of those who voted, answered positively. The rest 29% voted against the system, imposed in 1997 by the International Monetary Fund. Following a period of deep crisis in 1996 and in early 1997, the Currency Board Arrangement (CBA) was acknowledged as the best tool for stabilization and a way out of the crisis for Bulgaria. It was introduced formally in July 1997.

We need your support so can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article
Bulgaria news (Sofia News Agency - is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." (Sofia News Agency - and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria