19.12.2011

Today, around 16h30 local time, Euro Group Finance Ministers in expanded format will discuss in a conference call the latest amendments to the Treaty establishing the European Stability Mechanism as well as the increase in the IMF resources in the context of the European debt crisis.

Bulgaria will support Euro Group's proposal for introduction of a rule the contracting parties to take decisions with 85% majority in exceptional cases. Bulgaria is not a party to the Treaty establishing the European Stability Mechanism and has no financial commitments in regard to it. 

As regards the proposal to increase the capacity of the IMF through bilateral agreements, Bulgaria will confirm its position in principle that it will not participate in the financing of programmes to support financially undisciplined countries.

In 2007 Bulgaria paid off its liabilities to the IMF. Bulgaria has no financial commitments to the institution and does not intend to undertake any. Bulgaria's relations with the Fund are developing in the sense of the general cooperation of the institution with its members, with the IMF making annual reviews of macroeconomic indicators' performance.