Банкеръ Weekly

Briefs

CREDIT SUISSE FIRST BOSTON INTERESTED IN BULGARIAN BANKS

The forthcoming reform in the Bulgarian banking sector and the privatisation of Biochim commercial bank and Bank DSK are of interest to the Swiss delegation of businessmen and respresentatives of the Ministry of Economy, which is on a visit to Bulgaria, it became clear after their meeting with Finance Minister Milen Velchev. According to him, they are interested in the sale of the two local financial institutions, the more so that the delegation included a representative of Credit Suisse First Boston.The leader of the delegation - the Head of the State Secretariate for Economy of the Confederation of Switzerland Davis Sitz - said that the Swiss businessmen were impressed by the Bulgarian Goverenment's intention to reduce the tax burden. Finance Minister Velchev shared the stance of Mr. Sitz that it is namely these reforms that would attract more foreign investors to Bulgaria.Mr. Velchev underlined that the recent tragic events in the US would hardly influence the negotiations with the International Monetary Fund, that began on Tuesday. According to him, the impact of the terrorist attack on the USA on the global economy will not be significant, but it will be surely a negative one and could result in a certain decline of the international economic growth.

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