IMF Envoy: No Crisis in Relations with Bulgaria_x000d_
02.10.2003
Source: Novinite.bg
IMF and Bulgaria's government will continue to discuss the budget policy issue, including in the full mission scheduled for November, and we are confident that we will be able to reach agreement, James Roaf, the newly appointed International Monetary Fund (IMF) Resident Representative to Bulgaria, said in an exclusive interview for novinite.com and Sofia Morning News. He stressed that the recent IMF staff visit was for preliminary discussions with the government on budget policy, and was never expected to reach final agreement. Asked about the government plans to release funds from the fiscal reserve to finance infrastructure projects, Roaf underlined that infrastructure investment is just one of a number of very pressing expenditure needs. The budget process is there to help prioritize these spending needs and reconcile them with the availability of government resources. We caution against using the fiscal reserve for spending outside this budget process, James Roaf said.