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Bulgaria: President Asks For IMF Help

Sofia, 10 February 1997 (RFE/RL) - Bulgaria's President Petar Stoyanov is appealing to the International Monetary Fund for financial aid.

In a letter to IMF director general, Michel Camdessus, Stoyanov said officials from an interim government and the national bank are willing to meet high-level IMF officials immediately. He said Bulgaria is willing to set up a currency board, which would tie the battered lev to a convertible currency.

Stoyanov added he will name a new interim government in the next few days. Stoyanov met Stefan Sofianski, the mayor of Sofia, earlier today. Afterwards Sofianski expressed confidence he will be named Prime Minister of the interim government.

Bulgaria's Socialist government collapsed in late December as the country was going through severe economic turmoil. The Socialists agreed to early parliamentary elections last week after massive street demonstrations. Those elections will be held in April.