Bulgaria: Staff Report for the 2002 Article IV Consultation and First Review Under the Stand-By Arrangement and Request for Waiver of Nonobservance and Waiver of Applicability

International Monetary Fund

No 2002/174, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper assesses Bulgaria’s 2002 Article IV Consultation, First Review Under the Stand-By Arrangement (SBA), and a Request for Waiver of Non-observance and Waiver of Applicability. The authorities’ structural reform program is ambitious, but implementation needs to be stepped up. In particular, although the energy sector reform program aims appropriately at privatization and increased competition, delays in restructuring district heating companies and increasing energy prices toward cost-recovery levels need to be overcome. The IMF staff supports the authorities’ request for completion of the first program review under the SBA.

Keywords: ISCR; CR; June inflation data; end-June benchmark; June; stand-by credit; end-September benchmark; year inflation; Current account deficits; Eastern Europe (search for similar items in EconPapers)
Pages: 81
Date: 2002-08-07
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