Bulgaria is recovering from a severe economic and financial crisis that followed more than five years of macroeconomic mismanagement and timid attempts at restructuring the economy and transitioning from plan to market. The last three years have witnessed a rapid turnaround in achieving macroeconomic stability and implementing a solid economic transformation program. As a candidate country for accession to the European Union (EU), Bulgaria, in the years ahead will need to establish stable, well-regulated and competitive financial markets and institutions. This entails adapting its legislative framework to the norms and standards of the EU. In this context, this paper a. reviews developments in the financial markets after the 1996-97 economic and financial collapse; b. assesses where the sector stands in restructuring, adjusting to a currency board environment, and harmonizing its regulatory framework with the EU; and c. identifies the key outstanding financial sector policy issues to consider while meeting EU accession objectives.
- ISBN13 9780821347812
- Publish Date 31 July 2000 (first published 1 June 2000)
- Publish Status Active
- Out of Print 12 March 2021
- Publish Country US
- Imprint World Bank Publications
- Format Paperback
- Pages 58
- Language English