Bulgaria fits the Eurobond bill

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Bulgaria’s new government is preparing to enter the Eurobond markets to reduce its debt service costs. The country’s strong recovery from the banking collapse and economic setbacks of 1996 and 1997, its recent currency stability and commitment to EU convergence should win it a strong reception among investors. But concerns persist over the credibility of the government’s ambitions to balance the budget, cut taxes and increase spending all at the same time.