Bulgaria: Second Review Under the Stand-By Arrangement and Request for Waiver of Applicability of Performance Criteria

February 24, 2003

Preview Citation

Format: Chicago

Bulgaria: Second Review Under the Stand-By Arrangement and Request for Waiver of Applicability of Performance Criteria, (USA: International Monetary Fund, 2003) accessed November 22, 2024

Summary

This paper examines Bulgaria’s Second Review Under the Stand-By Arrangement (SBA) and a Request for Waiver of Applicability of Performance Criteria. Over the last six-month period, Bulgaria’s macroeconomic stability has strengthened further. However, political pressures have made it more challenging to maintain a prudent and flexible fiscal policy and have weakened the momentum of structural reforms. Bulgaria has had a commendable performance in 2002, and the IMF staff supports the authorities’ request to complete the second program review under the SBA.

Subject: Balance of payments, Currencies, Current account deficits, External debt, Fiscal policy, Money, Public debt

Keywords: Ceiling, CR, Currencies, Current account deficits, December, Eastern Europe, Executive board discussion, Increase labor market flexibility, ISCR, Privatization program, Stand-by credit from the IMF, State energy companies, State telecommunications company

Publication Details

Pages:

76
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2003/032
Stock No:

1BGREA0012003
ISBN:

9781451804379
ISSN:

1934-7685

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