Bulgarian Parliament postpones vote on 8BN euro borrowing as talks continue

Bulgaria’s unicameral Parliament, the National Assembly, voted on February 19 to postpone until next week debate and voting on the government’s proposed eight billion euro foreign borrowing, as the coalition cabinet struggled to secure sufficient support for it to pass.

The proposal to postpone voting came from Valeri Simeonov, co-leader of the nationalist Patriotic Front, which supports the government but which signalled the previous day that it could not support the proposed borrowing.

The National Assembly is being asked to ratify agreements signed on February 6 that create a global medium-term note (GMTN) programme for bond issues on international markets worth up to eight billion euro.

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(Photo: Clive Leviev-Sawyer)