Foreign Debt to Switzerland Paid Ahead of Term by Bulgaria

Posted on: October 31, 2007

Written by Select Property

Bulgaria has paid off its 28.6 million debt interests included to Switzerland ahead of its term, on October 30 2007. Earlier in the year another debt to the International Monetary Fund was paid off by Bulgaria, ahead of term.

As a result of the early payments Bulgaria has saved 16 million leva on interest in 2007.

Despite this, the minimal fiscal reserve of 3.6 billion leva, required in the budget 2007 law, was maintained.

Bulgaria Property News