13.10.2014

Minister of Finance Rumen Porodzanov took part in the regular annual meetings of the Boards of Governors of the World Bank Group and the International Monetary Fund held from 10 to 12 October in Washington, D.C. The Finance Minister also had a number of meetings with the top management of the IMF and the WB, as well as with representatives of financial institutions.

In his talks with Meno Snell, IMF Executive Director of the Dutch and Belgian Contingency, and with Frank Heemskerk, Executive Director of the Dutch Office in the World Bank, Minister Porodzanov discussed the underlying priorities in the work of the two international financial institutions. The Bulgarian Minister of Finance made them familiar with the challenges to the public finance management and with the reasons for the review of the 2014 State Budget Law, as proposed by the caretaker government.

The up-to-date economic and political status of our country was among the main topics in the talks Minister Porodzanov had with representatives of the European Department and of the Monetary and Capital Markets Department. Views were also exchanged on issues related to the global economic and financial perspectives and policies.

During his meeting with Laura Tuck, Vice President for Europe and Central Asia, the Minister of Finance pointed out that Bulgaria had established very good long relations and an effective dialogue with the World Bank and saw in its person an active and cooperative partner capable to render high-value added expertise and assistance. He also evaluated highly the role of the international institution over the years in supporting the implementation of key strategic and priority policies and reforms in the various sectors of the economy. Both sides expressed readiness to continue the dialogue and to outline the areas of future cooperation and interaction.