Bulgarian financial system still faces risks – IMF report
Financial safety net presents “important challenges”, despite reform efforts, IMF staff say
Bulgaria’s financial system still faces risks to its stability, despite reforms undertaken since the 2014 failure of the country’s fourth-largest bank, according to a staff report from the International Monetary Fund, published on May 23.
The IMF staff’s findings were endorsed by the institution’s executive board, which issued a statement calling on authorities to “press ahead with efforts aimed at strengthening financial sector resilience”.
The failure of Corporate Commercial Bank in 2014
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