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· Business (Tobacco)
non-USA, by Country
· Bulgaria
Organizations
· IMF
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Jump to full article: Bulgarian News Network (BNN) (bg), 2003-05-12
Intro: IMF official says telco, tobacco monopoly sale failures will hurt Bulgaria's economic performanceSOFIA (bnn)--The head of the International Monetary Fund mission for Bulgaria said Monday the government's failure to privatize state telecommunications company BTC and tobacco monopoly Bulgartabac would hurt Bulgaria's economic performance.
"The privatization deals are not of so big importance for the financial needs of the government but are essential to increase the efficiency of the economy," Jerald Shiff said after talks with Finance Minister Milen Velchev.
Both deals in question have fallen apart in the final phases before their conclusions triggering comments that the government is risking to scare away foreign investors.
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