IMF: Romania’s Lower-Than-Expected Inflation Best News Since IMF Mission's Previous Visit

The best news since the previous visit of the International Monetary Fund’s delegation to Romania is the decrease of the country’s inflation above expectations, IMF's mission head Jeffrey Franks said Sunday.

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Speaking at a meeting with Romanian President Traian Basescu and representatives of the World Bank and the European Commission, Franks said international institution officials expected Romania's inflation would drop in the second half of the year. He added the decrease is above expectations.

Romanian consumer prices fell for the fourth straight month in September, on cheaper food, while the annual inflation eased to 3.45%, the lowest rate in over two decades.

A joint mission of the IMF, the European Commission and the World Bank will be in Bucharest until November 7 to review Romania's progress under a EUR5.4 billion loan agreement signed in April.

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