Bulgaria: Fourth Review Under the Stand-By Arrangement and Request for Waiver of Nonobservance of Performance Criteria
March 26, 2007
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This paper discusses key findings of the Fourth Review Under the Stand-By Arrangement for Bulgaria. Performance in 2006 was broadly satisfactory, although structural reform implementation was weaker than expected. Notably, the government postponed until mid-2007 the launching of the electronic business registry, a key business climate measure. The financial system remains well capitalized and profitable with the modest nonperforming loans. The authorities and IMF staff agreed that the credit restraints should lapse and that Basel II should be implemented cautiously.
Subject: Balance of payments, Current account deficits, Exports, External debt, Fiscal policy, Fiscal stance, International trade, Public debt
Keywords: aggregate wage bill, central government arrears, CR, Current account deficits, data, Europe, Exports, final data, Fiscal stance, government, ISCR, saving-investment imbalance, staff appraisal, surplus
Pages:
62
Volume:
2007
DOI:
Issue:
127
Series:
Country Report No. 2007/127
Stock No:
1BGREA2007001
ISBN:
9781451804560
ISSN:
1934-7685
