Банкеръ Weekly



The IMF Mission, headed by Mr. Jerald Schiff, is coming to Bulgaria on October 22. The fund's representatives will stay for a week and will discuss with the Government amendments to tax legislation, as well as the 2002 budget revenues and expenses.EBRD is planning to issue a BGL1BN bond loan in Bulgaria in 2002, said Bulgaria's Vice Premier and Minister of Economy Nikolai Vassilev. He said he was informed about the plans by EBRD representatives during the Southeast Europe Economic Forum, held in Sofia from 15 to 17 October.According to Christos Katzanis, member of UBB's Management Board, 4.6 million Euro banknotes will be supplied to Bulgaria and will be launched by local banks by the year-end. That's 10% of the amount of currencies of EMU states which is now in circulation in Bulgaria. The total amount is currently some EUR400-500MN, said Mr. Katzanis.I hope that European Investment Bank's investments in Bulgaria will reach EUR1BN by the end of the current year, said Guido Bruch, EIB director for Bulgaria and Romania. Since 1990 EIB has launched over EUR15BN to countries applying for EU membership. More than EUR920MN of this amount has been launched to credit projects in Bulgaria.

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