For years, the International Monetary Fund helped to ensure global financial stability. Lately it has changed its mind on what used to be a core principle -- and, strangely enough, it appears to have done so on the basis of a single far-from-convincing working paper.
Bulgaria’s previous administration of Boyko Borissov canceled the sale of the government’s stake in the Bulgarian Stock Exchange on Feb. 20, the day it resigned amid protests against poverty that turned violent.
Bulgarian Finance Minister Simeon Djankov, who’s been praised by the European Union for reining in spending, was fired after thousands of people marched in protest at austerity four months before general elections.
Bulgarian police clashed with protesters angered about rising unemployment and energy prices as the prime minister pledged to pull the power distribution rights of Czech utility CEZ AS after firing the finance chief.
Bulgaria’s euro adoption efforts will get a boost from a government plan to include spending limits in the country’s constitution that mirror a European Union-wide push to curb deficits and debt, Finance Minister Simeon Djankov said.