Bulgaria May Ask IMF for Loan

Bulgaria does not currently require emergency assistance from the International Monetary Fund, but if the situation gets worse the country will seek international support, according to Prime Minister Sergei Stanishev, the press agency Thomson Reuters writes.

At the beginning of the last week, right party from opposition of GERB, expected to win parliamentary elections from July 5, has announced that Bulgaria needs to conclude an agreement with the IMF and the current government, led by a socialist, would have to sign one up to this point to mitigate the risks arising from the threat of a high budget deficit.

“We do not have technical problems, and if in a moment the necessity of a future international credit, we can perform fast and effective discussions with the IMF and European financial institutions, “said Stanishev.

“Main idea is to solve the situation alone (impact of economic crisis) if it is possible. For now, Bulgaria is good to handle itself, “he added. Stanishev pointed out that a possible agreement with the IMF will depend on decisions that will take the new government.

GERB, which according to all opinion polls is declared the winner of highest number of votes, but not of a sufficient number to obtain a decisive majority in elections in July, announced that if he gets in power, will immediately begin discussions with the IMF.