Government approved Action Plan for Bulgaria’s accession to ERM-II

The Government approved an Action Plan with measures for the accession of Bulgaria to the ERM-II Exchange Rate Mechanism until July 2019.

The measures include strengthening banking supervision through close cooperation with the European Central Bank, strengthening supervision of pension funds and insurance companies; improving the insolvency framework; strengthening the fight against money laundering; modernizing the management of state-owned enterprises and making recommendations for overcoming the inconsistencies between the Bulgarian legislation and the best international practices.

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