Front Matter Page
© 2001 International Monetary Fund
March 2001
IMF Country Report No. 01/53
Bulgaria: 2000 Article IV Consultation and Fifth Review Under the Extended Arrangement—Staff Report; Staff Statement; Public Information Notice and News Brief on the Executive Board Discussion; and Statement by the Authorities of Bulgaria
Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. In the context of a combined discussion of the 2000 Article IV consultation with Bulgaria and fifth review under the Extended Arrangement, the following documents have been released and are included in this package:
the staff report for the combined 2000 Article IV consultation and Fifth Review Under the Extended Arrangement, prepared by a staff team of the IMF, following discussions that ended on January 29, 2001 with the officials of Bulgaria on economic developments and policies. Based on information available at the time of these discussions, the staff report was completed on March 8, 2001. The views expressed in the staff report are those of the staff team and do not necessarily reflect the views of the Executive Board of the IMF.
a staff statement of March 23, 2001 updating information on recent economic developments.
a Public Information Notice (PIN) and News Brief summarizing the views of the Executive Board as expressed during its March, 23, 2001 discussion of the staff report on issues related to the Article IV consultation and the IMF arrangement, respectively.
a statement by the authorities of Bulgaria.
The documents listed below have been or will be separately released.
Letter of Intent by the authorities of Bulgaria*
Memorandum of Economic and Financial Policies by the authorities of Bulgaria*
Report on Observance of Standards and Codes—Update
Selected Issues and Statistical Appendix paper
*Included in Staff Report.
The policy of publication of staff reports and other documents by the IMF allows for the deletion of market-sensitive information.
To assist the IMF in evaluating the publication policy, reader comments are invited and may be sent by e-mail to Publicationpolicy@imf.org.
Copies of this report are available to the public from
International Monetary Fund • Publication Services
700 19th Street, N.W. • Washington, D.C. 20431
Telephone: (202) 623 7430 • Telefax: (202) 623 7201
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Price: $15.00 a copy
International Monetary Fund
Washington, D.C.
Front Matter Page
INTERNATIONAL MONETARY FUND
BULGARIA
Staff Report for the 2000 Article IV Consultation and Fifth Review Under the Extended Arrangement
Prepared by the European I Department
(In consultation with other departments)
Approved by Jacques R. Artus and Liam Ebrill
March 8, 2001
Contents
I. Introduction
II. Background
III. Report on the Discussions
A. Macroeconomic Framework
B. Fiscal Policy
C. Competitiveness
D. Financial Sector Policies
E. Structural Issues
F. External Sector Policies
IV. Staff Appraisal
Text Boxes
1. Progress in Structural Reform During 2000
2. Highlights of the 2001 Budget
3. Banking Sector Soundness
4. Privatization: Progress and Prospects
Figures
1. Indicators of Progress, 1991–2000
2. Real Sector Developments, 1992–2001
3. Indicators of Competitiveness, 1992–2000
4. External Sector Developments, 1996–2000
5. Monetary and Financial Indicators, 1996–2001
6. Macroeconomic Indicators in Selected EU Accession Countries, 1999
7. Relative Progress in Structural Reform, 1999
8. Relative Progress in Institutional Reform, 1999
9. Medium-Term Projections, 1997–2006
Tables
1. Selected Economic Indicators, 1996–2000
2. Performance Criteria and Indicative Targets for September 2000–December 2001
3. Structural Performance Criteria and Benchmarks for September 30 and December 31, 2000
4. Indicators of External Vulnerability, 1995–2001
5. Macroeconomic Framework, 1997–2006
6. Monetary Survey, 1997–2001
7. Balance of Payments, 1998–2001
8. Projected Payments to the Fund as at January 31, 2001
9. General Government, in leva, 1999–2001
10. General Government, in percent of GDP, 1999–2001
Appendices
I. Fund Relations
II. World Bank Relations
III. Statistical Issues
Appendix Tables
11. Technical Assistance, 1997–2000
12. World Bank Lending Operations
13. Core Statistical Indicators as of February 28, 2001
Attachment
I. Letter of Intent and Memorandum on Economic Policies of the Government of Bulgaria
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Public Information Notice (PIN) No. 01/33
International Monetary Fund
FOR IMMEDIATE RELEASE
700 19th Street, NW
April 3, 2001
Washington, D. C. 20431 USA
Telephone 202-623-7100
Fax 202-623-6772
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EDITORIAL DIVISION
ROOM IS 7-1200 0493
News Brief No. 01/28
FOR IMMEDIATE RELEASE
March 23, 2001
International Monetary Fund
700 19th Street, NW
Washington, D. C. 20431 USA
EXTERNAL RELATIONS DEPARTMENT
Telephone 202-623-7100
Fax 202-623-6772
