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Bulgarian Business Insists on IMF Loan

Date: 31.03.2009

Bulgaria have to immediately sign a prevention agreement with the International Monetary Fund (IMF), the Confederation of Employer and Industrialist in Bulgaria (CEIBG) insists.

Although, currently Bulgaria does not require out-of-state funding, it needs those money in case of emergency, when no money from the fiscal reserve should be used, CEIBG's chair, Ivo Prokopiev, said.

"Such an agreement will be a guaranty for the irreversible financial discipline, and will make Bulgaria's Euro Zone acceptance negotiations with the European Central Bank easier", Prokopiev explained.

Bulgaria's fiscal reserve should remain as high as possible, and even a minimum level, under which the reserve must not fall, must be set.

CEIBG also demands the establishment of a anti crisis buffer. They suggest the spending in the public field to be reduce between 10-20%.

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