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MF: Bulgaria on the way to adopt the euro in 2023

UNITED STATES (OBSERVATORY NEWS) — The head of the International Monetary Fund, Kristalina Georgieva, said on Sunday that Bulgaria’s plans to enter the preparatory stage for joining the euro zone next spring and the euro to adopt its currency in 2023 “completely possible”.

Bulgaria, which joined the European Union in 2007, hopes to achieve the initial conditions for joining the ERM-2 exchange mechanism by the end of next April and the euro will adopt a currency in 2023.

“My expectations are that Bulgaria’s plans to enter the euro zone will be fulfilled exactly as they were drawn,” Bulgarian Georgian told Georgian BNR radio.

She added that Kristen Lagarde, President of the European Central Bank, “is looking at a very positive view” of Bulgaria’s bid to enter the eurozone and that she told her at the World Economic Forum in Davos that “it seems that the Bulgarian language will be traded in my hall where the eurozone meetings are taking place.”

She said entering the euro area would benefit Bulgaria, provide greater monetary security and protect the country from global volatility.

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