IMF Mission May Arrive In Romania Next Week – Sources

„It is a matter of days. The IMF officials will send a final answer Friday (October 23),” the quoted sources said.

World Bank sources have also confirmed that will send a delegation to Bucharest, although earlier this week the lender said the assessment mission was postponed until Romania has a proper government in place.

Interim Prime Minister Emil Boc corroborated the information and said the Romanian authorities have received indications that both the IMF and the World Bank might send missions to review the country’s economic progress within the next 14 days.

„We’ve sent a request to the IMF and the World Bank to send assessment missions to Romania and the first reactions indicate that the delegation will arrive within the next two weeks, sooner than expected,” Boc said.

The IMF, together with the World Bank and other international financial institutions granted Romania a EUR19.95 billion loan to cushion the effects of a deepening recession.

However, the recent collapse of Romania’s minority government has plunged the country into political crisis, raising doubts about the country’s ability to meet the requirements attached to the IMF-led financial package.

The World Bank and the IMF have both announced their assessment missions will arrive in Romania only after a new government is in place and analysts believe the international institutions may delay additional disbursements.