Romanian High Officials Set Parameters Of New IMF Deal

Romanian President Traian Basescu, Prime Minister Emil Boc, central bank governor Mugur Isarescu, Finance Minister Gheorghe Ialomitianu on Thursday set the parameters of a new, precautionary agreement with the International Monetary Fund and the European Union, the central bank said in a statement.

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On Thursday, Basescu, Boc and Ialomitianu discussed at the central bank with Isarescu and the bank's executive management.

During the meeting, the high ranking officials analyzed the loan deals with the IMF, the EU and the other financial institutions, the central bank said after the meeting.

In the spring of 2009, Romania secured a EUR20 billion financial package from the international institutions to help it cope with the economic crisis effects.

Romania plans to sign a precautionary arrangement with the IMF once the current EUR13 billion stand-by loan comes to an end in April.

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