Cover IMF Staff Country Reports
Bulgaria: Fourth Review Under the Stand-By Arrangement and Request for Waiver of Nonobservance of Performance Criteria
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2007: Issue 127
Language:
English
Publication Date:
26 Mar 2007
DOI:
https://doi.org/10.5089/9781451804560.002
ISBN:
9781451804560
ISSN:
1934-7685
Pages:
62
Keywords:
ISCR; CR; central government arrears; surplus; staff appraisal; government; data; saving-investment imbalance; aggregate wage bill; final data; Current account deficits; Fiscal stance; Exports; Europe
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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.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2007: Issue 127