Prima pagină » Economic » IMF To Reply To Romania’s Letter Of Intent Next Wk – Sources

IMF To Reply To Romania’s Letter Of Intent Next Wk – Sources

The International Monetary Fund informed the Government it will send early next week a reply to Romania's letter of intent on closing a financing agreement, sources close to the matter told MEDIAFAX Wednesday.
Bogdan NeaguGabriela Stan
01 apr. 2009, 15:41, Economic

The letter, sent last week, will be approved by IMF board on May 4, before signing the agreement.

Last week, Romania agreed with the International Monetary Fund, the European Union, the World Bank and the European Bank for Reconstruction and Development a EUR19.95 billion economic program, of which EUR12.95 billion in a two-year stand-by arrangement from the IMF.

The first tranche, worth EUR5 billion, is expected to come from the IMF after the approval of its board.