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. Last Updated: 07/27/2016

IMF to Bulgaria

SOFIA () -- An International Monetary Fund team is expected in Bulgaria on Wednesday for a two-week review of the country's reform progress within an extensive funding deal approved last month, an IMF official said Monday.

Bulgaria received the first $115 million tranche last month after sealing a tough reform program, which includes proposed closure of scores of loss-making state firms and several insolvent banks, among other commitments. Bulgaria stands to receive a second $115 million tranche in the second half of September if it meets IMF targets.