site.btaBulgaria to Participate in IMF's Poverty Reduction and Growth Trust

By its decision, the Council of Ministers approved a draft letter to the Managing Director of the International Monetary Fund (IMF) requesting the Republic of Bulgaria's contribution to the  Poverty Reduction and Growth Trust (PRGT) in the form of a subsidy in the amount of 5 million Special Drawing Rights (SDR) (about USD 6.6 million). This is proportional to this country's quota share in the general fundraising goal of SDR 2.3 billion. The necessary funding is provided in the 2024 State Budget.

Bulgaria's participation in raising funds under this instrument is a fulfillment of commitments as a shareholder in the IMF, corresponds to the country's international priorities for the realization of shared goals and policies in a fragmented global economy. In this way, a positive political sign will be sent to the international community about the country's readiness to share certain financial responsibilities under international initiatives.