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Bulgaria opposition leader says country needs IMF help
June 27, 2014 / 12:10 PM / 3 years ago

Bulgaria opposition leader says country needs IMF help

SOFIA, June 27 (Reuters) - Bulgaria needs immediate help from the International Monetary Fund, the leader of its main opposition party said on Friday, amid fears for the stability of the country’s banking system following a run on two major banks.

“The IMF should be called immediately. This is the only option. The next budget should be prepared by the Fund,” Boiko Borisov told reporters in parliament.

Asked why Bulgaria needed IMF help, he said: “Mostly for expertise so that the country can calm down.”

He added that the outgoing coalition government would probably stay in office until the end of July to allow time to launch talks with the IMF and to raise new debt totalling up to 6 billion levs ($4.2 billion).

Borisov was speaking after the leaders of all main political parties agreed to set October 5 as the date for a snap election after months of political turmoil. Borisov’s centre-right GERB party would be the biggest party in the new parliament, according to opinion polls. ($1 = 1.4392 Bulgarian Levs) (Reporting by Tsvetelia Tsolova, writing by Gareth Jones)

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