Bulgaria : Staff Report for the 1999 Article IV Consultation and Third Review Under the Extended Arrangement

Author/Editor:

International Monetary Fund

Publication Date:

April 18, 2000

Electronic Access:

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Summary:

In 1999, Executive Board deliberations on Bulgaria focused on the need for the authorities to persevere with structural reform. Under the currency board arrangement introduced in mid-1997, Bulgaria has achieved macroeconomic stabilization and made substantial progress in structural reform. Banking supervision has improved markedly. Executive Directors stressed the importance of wage moderation and flexible labor markets for maintaining competitiveness and reducing unemployment. The emerging private sector also faces many obstacles, including burdensome bureaucracy and red tape, weak governance, and a banking system hesitant to extend credit.

Series:

Country Report No. 00/53

Subject:

Notes:

Included with the Staff Report are the text of Public Information Notice No. 00/32 and a statement by J. de Beaufort Wijnholds, Executive Director, on March 31, 2000.

English

Publication Date:

April 18, 2000

ISBN/ISSN:

9781451804348/1934-7685

Stock No:

1BGREA0012000

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

113

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