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Bulgaria: IMF Denies Reports Of Freeze In Savings

Washington, 6 February 1997 (RFE/RL) - The International Monetary Fund (IMF) has denied that it is considering proposing to Bulgaria a freeze on personal savings deposits in banks or a replacement of such desposits with government securities.

In an unusual statement issued by the IMF resident mission in Sofia late yesterday, the fund said the reports of proposed actions against the savings of individual citizens in Bulgarian banks are "false."

Additionally, the fund denied reports of a special meeting of the IMF leadership on Bulgaria. "It is not true that there has been an extraordinary meeting of IMF management or the IMF's Executive Board on this subject," the statement said.

The fund yesterday welcomed the agreement among political parties for early elections and offered to resume working on needed remedies for Bulgaria's economy as soon as an interim government is in place.