Last updated: 01.10.2005.

International  monetary fund and the regulation of the  fiscal and monetary policy in Bulgaria.

Rumen Georgiev



On the basis of the practice up to now with the international financial organizations IMF and World Bank and the analysis of official statistic data of the Bulgarian National Bank and the Statistic Institute for the recent years some specific problems which faces the currency board in the country are revealed. The ways how they should be solved are shown. They are comprising important changes in the principles of functioning of the currency board namely: giving the central bank of the country  the function as last creditor of some financial institutions banks and funds with state participation, creating of conditions and regulations for functioning of specialized banking institutions outside the system of commercial banks, establishment of the level of the foreign exchange rate of the national currency in conformity with the market requirements etc. and all this in view of the long term interests of the country.




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