Bulgaria not to extend the agreement with the International Monetary Fund
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The agreement between Bulgaria and the International Monetary Fund (IMF) will expire in September 2006. The financial minister Mr. Plamen Oresharski said, Bulgaria will not extend the agreement. The end of the partnership will mean also end of the loan-financing from the IMF.
Other countries from the region as Serbia and Montenegro, Romania and Turkey will continue their relations with the IMF.
The disadvantages for Bulgaria are that there will be no such restriction for the government public spending and the started reforms may not be finished.
The advantages are the free fiscal politic and the likely removal of the banks' lending restrictions. |
