IMF UPBEAT ON ECONOMIC LONG-TERM PROSPECTS

Business | May 9, 2002, Thursday // 00:00

The International Monetary Fund is optimistic about the growth indices of the Bulgarian economy, which will be higher than the average for the region, IMF deputy managing director Ann Krueger, said at her meeting with Deputy Prime Minister and Economy Minister Nikolay Vassilev and Jerald Schiff in Washington. Krueger and Vassilev discussed the main parameters of Bulgaria’s two-year agreement with the IMF. Kruger described Bulgaria as a country with great growth potential that should be realized. Bulgaria keeps its commitments on the foreign debt management, budget deficit and fiscal reserves, the IMF office in Washington announced. During the meeting Vassilev reviewed the upcoming privatization deals in Bulgaria. In his words, IMF assesses positively the Cabinet’s achievements so far. Minister Vasilev and Schiff will meet again next week in Sofia when the IMF official joins the fund's mission which has arrived in Bulgaria to review the implementation of the Bulgaria-IMF agreement. Days before the meeting of the World Bank Fund, which is to discuss the three-year program for Bulgaria, Minister Vassilev met with Johannes F. Linn, Vice President of the bank for Eastern and Central Europe. The program envisages USD 750 M of aid. Financial aid and expert assistance was asked by Minister Vassilev at his meeting with Executive Vice President of the International Financial Corporation Peter Woicke. So far the financial corporation has invested a total of USD 180 M in Bulgaria in projects in the financial sector and production. According to Peter Woicke the corporation is interested primarily in the energy and telecommunication sector.
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