The effects of the financial and economic policies of the currency board established by the IMF on Bulgarian agriculture

摘要

Bulgarian economic and fiscal policy has been determined by a currency board since March 1997. The board was established by means of an agreement between the Bulgarian Government and the International Monetary Fund in order to overcome the economicdifficulties and the financial crisis caused by the early-90s market-liberalization. The currency board's aim is to achieve an economic and financial stabilisation within Bulgaria. In these times of financial and economic crisis, agriculture in Bulgariahas to: meet internal demand, augment the foreign exchange reserve, help reduce unemployment and help overcome poverty and starvation. The Bulgarian nature and long tradition of agriculture will help the image of Bulgaria being a producer of excellent agricultural and food products, however, government acts are necessary that encourage agricultural production and fit EU-law. EU membership is a long-term aim and is considered vital for Bulgaria.