Implications of the Currency Board in Bulgaria
Implications of the Currency Board in Bulgaria

Summary/Abstract: On 1st July 1997, a currency board arrangement (CBA) was adopted in Bulgaria, replacing the former floating exchange rate regime that was applied in the country. This event marked a cornerstone in the development of the national economy during the transition period. The author analyses the impact of the CBA after the crisis of 1996 and the CBA implementation in 1997, lists the short-term economic effects in terms of financial stabilisation, real GDP rates of growth, foreign investment in 1998. The article concludes with a review of bioth the long-term CBA scenario and the short-term CBA scenario.

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