Council of Ministers Appoints Metodi Metodiev as Bulgaria's Alternate Executive Director at the IMF
The Council of Ministers approved the appointment of Deputy Minister of Finance Metodi Metodiev as Bulgaria's Alternate Executive Director at the International Monetary Fund (IMF), the government's press service announced. The decision comes in the context of the country's international commitments and is in compliance with the key provisions of the financial institution's Articles of Agreement.
According to the agreement, each member country is obligated to appoint an Executive Director and an Alternate Executive Director, whose primary role is to protect the interests of their country on the IMF Board of Governors. This is an important step for maintaining active and full participation in global economic governance, ensuring that Bulgaria's voice is heard on matters of key importance.
Following established practice, the position of Executive Director for Bulgaria is traditionally held by the Governor of the Bulgarian National Bank (BNB), while the post of Alternate Executive Director is entrusted to the Deputy Minister of Finance. This representative is usually tasked with the responsibility of developing and maintaining the relationship between the country and the IMF. Metodiev's appointment is directly related to this long-standing tradition and ensures continuity in the representation process.
The new appointment aims to ensure the timeliness of Bulgaria's representation at the IMF. This will enable the country to effectively express its positions on current issues on the institution's agenda and to defend its interests as one of its shareholders. This is of particular importance in a world of ever-faster-changing economic challenges.
We would like to remind you that in February of this year, an IMF expert mission visited the country. These expert visits are a routine part of how the international financial institution maintains contact with its member countries, especially those that do not have active agreed-upon programs with it. Such meetings provide an opportunity to assess the economic situation, exchange views, and deepen cooperation at an expert level.