Kristalina Georgieva Secures Second Term as IMF Chief
Bulgaria's Kristalina Georgieva has been appointed for a second term at the helm of the International Monetary Fund (IMF)
The International Monetary Fund is not pressing good policies on countries in financial crisis, such as Greece and Spain, according to Bulgarian Minister of Finance Simeon Djankov.
"Regarding the crisis in Europe now, the IMF is part of the problem, not part of the solution, at least for now," said Djankov in an interview for Darik Radio Saturday.
When asked whether Bulgaria should look for assistance from the Fund in terms of a loan, the Finance Minister firmly stated that this is completely out of order.
"This is a funny idea. You go to the IMF when you are in trouble, and we are one of the three best financially performing countries in Europe," said Djankov.
"Second, and I think more importantly, during the last 3-4 years, the International Monetary Fund made a number of wrong steps, in Greece as well as in Spain," added he.
According to Djankov, the very type of advice that the IMF is issuing is on the wrong, thus concluding that Bulgaria needs no assistance either in terms of money, or in terms of counsel.
The Bulgarian Minister of Finance however did not go to specify what exactly he thinks is wrong with the policies of the IMF.
However, he expressed hopes that under the leadership of Christine Lagarde things in the fund will gradually start to turn for the better.
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