IMF Staff Country Reports

Bulgaria: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, and Payment Systems

August 23, 2002

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International Monetary Fund. Monetary and Capital Markets Department "Bulgaria: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, and Payment Systems", IMF Staff Country Reports 2002, 188 (2002), accessed November 23, 2024, https://doi.org/10.5089/9781451804508.002

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Summary

This paper presents key findings of Bulgaria’s Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, and Payment Systems. Bulgaria’s macroeconomic policies are tied to three anchors: the discipline imposed by the Currency Board Arrangement; discipline imposed by the accession procedure to the European Union and European Monetary Union; and the conditionalities of IMF and World Bank programs. Although real growth has resumed and the fiscal deficits have been contained, the increasing current account deficit is a matter of concern.

Subject: Banking, Commercial banks, Financial institutions, Financial markets, Financial statements, Insurance, Insurance companies, Payment systems, Public financial management (PFM)

Keywords: Bank, Banking sector, Banking system, Central and Eastern Europe, Central bank, Commercial banks, CR, Current account, Financial statements, Financial system, Foreign exchange, Global, Government, Insurance, Insurance companies, Interest rate, Internal audit, ISCR, Joint stock, Monetary policy, Operating expenses, Payment systems, Process, Risk management

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