The National Bank of Bulgaria reported that its Governor, Dimitar Radev, met with International Monetary Fund Managing Director Kristalina Georgieva during her visit to Bulgaria, with talks focused on Bulgaria’s progress toward joining the euro area and adopting the euro as the official currency. Georgieva argued that Bulgaria has been de facto in the euro area since the introduction of the currency board in 1997 and that adopting the euro would make this status de jure, adding that experience in other countries points to a minimal impact on prices alongside significant benefits for the economy, investment and incomes. Radev described euro area membership as a strategic opportunity to raise competitiveness and long-term economic potential, and stressed the need for prudent macroeconomic policy, budget discipline and structural reforms in human capital, innovation and the institutional environment.
National Bank of Bulgaria 2025-06-02
National Bank of Bulgaria governor meets IMF Managing Director to discuss Bulgaria’s euro area accession progress
The National Bank of Bulgaria's Governor, Dimitar Radev, met with IMF Managing Director Kristalina Georgieva to discuss Bulgaria's progress toward euro area membership. Georgieva noted Bulgaria's de facto euro area status since 1997 and highlighted the economic benefits of formal adoption. Radev emphasized the strategic opportunity for competitiveness and the importance of macroeconomic policy and structural reforms.