Програма за замяна на дълг, август 1995
Debt Relief Program, August 1995

Author(s): Author Not Specified
Subject(s): Politics / Political Sciences, Politics, Social Sciences, Economy, National Economy, Sociology, Economic policy, Applied Sociology, Evaluation research, Economic development, Financial Markets, Public Finances, Socio-Economic Research
Published by: Център за изследване на демокрацията
Summary/Abstract: Changes in recent years have placed the international business in a new economic environment. Despite the serious economic, financial and structural difficulties, Bulgaria has the potential for privatization, modernization of production and rapid economic growth, as it has never before.Bulgaria began reforms with a huge external debt inherited from the communist regime. Following the moratorium on foreign debt payments of March 29, 1990, negotiations with commercial creditor banks took place over three years. In June 1994 a debt reduction and servicing agreement was signed. It contains a special clause on the exchange of certain instruments against property provided that Bulgaria adopts a debt exchange program.

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