February 1, 2019 / 12:45 PM / 6 months ago

IMF says preparation for euro zone beneficial for Bulgaria

SOFIA, Feb 1 (Reuters) - Bulgaria’s push to join the euro zone is having a beneficial impact on the country, the International Monetary Fund said on Friday.

In order to join the ERM-2 mechanism, the two year “waiting room” for the euro zone this summer, Bulgaria has committed to improve financial sector supervision, anti-money laundering measures and management of state-owned companies.

“Preparation for joining the ERM-2 is improving governance,” said Jaewoo Lee, head of the IMF’s regular mission to Bulgaria.

“Completing these commitments and joining ERM-2 and the banking union would further underpin the credibility of policies in addition to many benefits that EU membership has brought,” he said. (Reporting by Tsvetelia Tsolova)

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