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

International Monetary Fund

No 2003/032, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; stand-by credit from the IMF; increase labor market flexibility; December; ceiling; privatization program; state telecommunications company; executive board discussion; state energy companies; Current account deficits; Currencies; Eastern Europe (search for similar items in EconPapers)
Pages: 76
Date: 2003-02-24
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Citations: View citations in EconPapers (5)

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