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IMF: BULGARIA’S FINANCIAL SYSTEM IS RESILIENT AND THERE IS NO RISK FOR PIBLIC FINANCE

25.05.2017

The Executive Board of the International Monetary Fund (IMF) discussed and approved Bulgaria's Financial System Stability Assessment which is an important part of the procedures related to the Financial Sector Assessment Programme (FSAP). This is the main document adopted by the IMF within this programme, with the World Bank also expected to adopt its financial sector assessment for Bulgaria in the near future.

The results from Bulgaria's FSAP have confirmed the resilience of the country's financial system and the absence of any direct risks for the public finance. The IMF underscores the efforts made by the Bulgarian institutions to maintain the macroeconomic and financial stability and acknowledges the progress made as to financial sector reforms. 

As the Ministry of Finance has already informed, Bulgaria's FSAP was launched in July 2016 with a preliminary mission of the IMF and the World Bank and it will assist the Bulgarian authorities with the follow-up to the financial sector reforms and to ensure the stability of the Bulgarian economy. 

You can see the press release, the Executive Board's assessment and the report here.

Updated on 22.06.2017: You can see The Technical documents and The World Bank Report here