TINCHEV (since 30 December 1992)
Member of:
BIS, BSEC, CCC, CE, CSCE, EBRD, ECE, FAO, G-9, IAEA, IBRD, ICAO, ICFTU, IFC,
ILO, IMF, IMO, INMARSAT, INTERPOL, IOC, IOM (observer), ISO, ITU, LORCS,
NACC, NAM (guest), NSG, PCA, UN, UNCTAD, UNESCO, UNIDO, UNTAC, UPU, WHO,
WIPO, WMO, WTO, ZC
Diplomatic representation in US:
chief of mission:
Ambassador Ognyan Raytchev PISHEV
chancery:
1621 22nd Street NW, Washington, DC 20008
telephone:
(202) 387-7969
FAX:
(202) 234-7973
US diplomatic representation:
chief of mission:
Ambassador Hugh Kenneth HILL
embassy:
1 Alexander Stamboliski Boulevard, Sofia, Unit 25402
mailing address:
APO AE 09213-5740
telephone:
[359] (2) 88-48-01 through 05
FAX:
[359] (2) 80-19-77
Flag:
three equal horizontal bands of white (top), green, and red; the national
emblem formerly on the hoist side of the white stripe has been removed - it
contained a rampant lion within a wreath of wheat ears below a red
five-pointed star and above a ribbon bearing the dates 681 (first Bulgarian
state established) and 1944 (liberation from Nazi control)

*Bulgaria, Economy

Overview:
Growth in the lackluster Bulgarian economy fell to the 2% annual level in
the 1980s. By 1990, Sofia's foreign debt had skyrocketed to over $10 billion
- giving a debt-service ratio of more than 40% of hard currency earnings and
leading the regime to declare a moratorium on its hard currency payments.
The post-Communist government faces major problems of renovating an aging
industrial plant; keeping abreast of rapidly unfolding technological
developments; investing in additional energy capacity (the portion of
electric power from nuclear energy reached over one-third in 1990); and
motivating workers, in part by giving them a share in the earnings of their
enterprises. Political bickering in Sofia and the collapse of the DIMITROV
government in October 1992 have slowed the economic reform process. New
Prime Minister BEROV, however, has pledged to continue the reforms initiated
by the previous government. He has promised to continue cooperation with the
World Bank and IMF, advance negotiations on rescheduling commercial debt,
and push ahead with privatization. BEROV's government - whose main
parliamentary supporters are the former Communist Bulgarian Socialist Party
(BSP) - nonetheless appears likely to pursue more interventionist tactics in
overcoming