ECONOMIC - MONETARY REFORM

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP80-00809A000600150005-9
• Release Decision: RIPPUB
• Original Classification: C
• Document Page Count: 2
• Document Creation Date: December 22, 2016
• Document Release Date: June 15, 2011
• Sequence Number: 5
• Publication Date: July 18, 1952
• Content Type: REPORT

Declassified in Part - Sanitized Copy Approved for Release 2011/12/30: CIA-RDP80-00809A000600150005-9
Mld QQGQIIYRT C3R?AIQT IRI UUL5IQR AffcCTTRS To# RATIONAL DU I!I*I
QT Tst slrtib stATO3 .15,1, Tls RURI.% QV ssMQRARR ACT 50
?. s C aI ASS Ob. Am ARRROS5. IPR TsAR1R11si0P dG TRS RsTSIA"OR
QY ITS Csoy.LTS iR ART Ran*" TQ AR QRAQTyQ0,190 Pat 9W Is NP
RIRITO0 AT LAS' WSOOACISQR Q, TRIs "Its Is 01011515,0.
REPERCUSSIONS OF ROMANIAN NOKE'PA1 R 7O ( IN BULGARIA
The recent Rumanian monetary reform had reper-
cussions in Bulgaria. Although completely unjustified, since there are no
longer any "capitalists" in this country, there was considerable unrest among
people possessing even small sues of money. The possibility that a similar
monetary reform might be instituted in Bulgaria was discussed everywhere.
The feeling that the Bulgarian lev night follow the example of the Rumanian
lei, which itself followed the course of the Polish zloty, is given weight-by
a public notice which appeared in Bucharest. It stated: "!he rate of exchange
of the lei will be based on that of the Soviet ruble; this meeus it will be based
on the steadiest currency in the world, that of the Soviet Union, rather than on
the dollar which is unstable and whose buying power is shrinking daily."
This explanation of the devaluation of the lei suggests the possibility
that it was a move pertaining not solely to Rumania, but the forerunner to
similar action in the other Soviet Satellites which have not yet adjusted-their
currency to the ruble standard.
Altbovgh there was a monetary reform in Bulgaria in 1947, it was then too
soon to adjust the rate of eschaags of the ley to the Soviet ruble, which ap-
pears to be the intention of the Soviet Bloc.
COWMI L!I S OTYLCIALS ONLY
CLASSIFICATION
Declassified in Part - Sanitized Copy Approved for Release 2011/12/30: CIA-RDP80-00809A000600150005-9
 Declassified in Part - Sanitized Copy Approved for Release 2011/12/30: CIA-RDP80-00809A000600150005-9
A daaararlustim of the Bulgarian lev is expected by everyone and bens caused
certain market f].uctsaattons.
Plgsria n elothing stores yhich are veil stocked, but have bad few
custcese*re bee*u a of their prohibitive prices, bane recently had an ad teeiable
increase in turnover." People pimfor to buy, even at high prices, rather than
love moat of their ssneg through daevaluatioxa. State stores are also doing a
lively business in miscellaneous items.
ire is meu^e baying and selling of small parcels of real estate vhich were
left after the land refoa. The buyers are sUwell-paid Communists iaho have
amassed tidy sayings and are afraid of losing them. The individuals most con-
cerned with unloading their supply of left are the Soviet citizens working in
Bulgaria. They wish, at nil costa, to escapee tba ci= :%,- : ` '?= =ei~_
Wives of govexuant officials are the principal purchaears of clothing and
shoes. They buy apoh and in4iacriainately.
Following the Soviet buying agree, soseeone noted, "The devaluation of the
Rumanian lei has throeau the Soviets in Bulgaria into a panic." his comment
quite properly reflects the effects of the Rumanian sae notary reform on the
people of a country who are impoverished by a governerut which rules by hunger.
Declassified in Part - Sanitized Copy Approved for Release 2011/12/30: CIA-RDP80-00809A000600150005-9