Support The Moscow Times!

Sofia Ratifies Debt Pay

SOFIA -- Bulgaria's parliament Wednesday ratified an $8.16 billion commercial debt accord, just in time to meet a July 28 deadline on the deal.


Parliament's vote put an end to four years of financial isolation, which began when the country's last communist government imposed a moratorium on all debt payments. Bulgaria's deputy finance minister, Dimitar Kostov, is due to sign documents covering the bonds, with issue date July 28, which will be used to restructure the debt.


"The deal will boost Bulgaria's credit rating in world financial community and unlock short-term letters of credit for Bulgarian businessmen," said Kosto.

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more