IMF Says Preparation for Euro Zone Beneficial for Bulgaria

Bulgaria’s push to join the euro zone is having a beneficial impact on the country, the International Monetary Fund said on Friday, reports Reuters. 

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.