Юзер Написал:
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> status:
> Statement by Age Bakker, Executive Director for
> Bulgaria
> and Victor Ivanov Yotzov, Advisor to the Executive
> Director
> March 4, 2009
>
>
> The challenges ahead
> Notwithstanding past achievements, the authorities
> now recognize that the end of the capitalinflow
> driven boom creates
significant policy challenges.
> Recent developments in the country, as well as in
> the region as a whole, suggest the need of a
swift
> change in policy priorities. Until just a short
> time ago, these were speeding up convergence and
> raising living standards, whereas now the priority
> is focused
primarily on preserving macroeconomic
> stability. The authorities and staff share the
> view that the
most important challenge is ensuring
> that the likely drop in capital inflows does not
>
result in a confidence crisis. In this regard,
>
maintaining confidence in the currency board
> arrangement and the financial system is crucial.
> With a view to the fulfillment of this objective,
> keeping public finances in check is regarded as
> key instrument. As rightly underscored by staff,
> in many ways Bulgaria starts the current slowdown
> from a strong position. The public finances are in
> good shape,/
а дали е така при вече отчитащото се неизпълнение на приходите/ the balance sheets of the central bank
> and the government are strong, with large foreign
> reserves and substantial buffers accumulated in
> the fiscal reserve account.
The financial system
> is stable and well capitalized-
ако е така защо кредитирането е в колапс а лихвите безумни. All this are
> important prerequisites needed by each and every
> economy to weather the current global downturn.
>
> Finally, with regard to the ERM II, the
> authorities maintain their long stated position
> that they will seek to joining at the earliest
> possible date. The ongoing global financial crisis
> has not changed the authorities’ determination. On
> the contrary, they have started talks with their
> European partners and are ready to provide them
> with firm and detailed policy commitments. --
По този въпросСтанишев и сие вече бяха отсвирени
>
The authorities’ plan is to uphold the currency
> board arrangement at the existing exchange rate
> until Bulgaria joins the EMU. The Bulgarian
> government and the central bank have committed to
> unilaterally maintain a zero deviation of the
> exchange rate after Bulgaria joins the ERM II.
Те добре планират ама защо авторите на този "обзор" се въздържат да кажат дали изобщо тези намерения са осъществими .
И как да разбираме използването на натоварени с доста подтекст думички като "crucial" , които са по-подходящи за екшън литература отколкото за сух икономически анализ.
Всъщност колко е сляп и глух всеки си определя сам ...
