Bulgarian Govt Denies Reports of IMF Bailout Loan Talks

Finance | July 9, 2010, Friday // 07:53|  views

Bulgaria's Finance Ministry has denied rumors of IMF bailout talks. Photo by BGNES

Bulgaria's Finance Ministry has issued a statement making it clear it was not involved in negotiations for a bailout loan with the International Monetary Fund.

The statement was issued as a result of “publications based on rumors and unclear information sources.”

“The country has a well-structured fiscal strategy at present and the Cabinet does not think that it needs any efforts in that respect (i.e. getting bailout aid),” says the Finance Ministry.

It points out that the government has a number alternatives for financing the state budget including by issuing bonds on the domestic and international markets.

Late Thursday night the Bulgarian Parliament adopted the 2010 Revised State Budget Act setting the 2010 deficit at 4.8% on cash base, and 3.8% according to EU accounting rules.

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Tags: Finance Ministry, IMF, bailout, state budget, 2010 budget


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