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Romania’s Agreement With IMF, EC To Be Announced This Week – EU Commissioner

Joaquin Almunia, E.U. Commissioner for Economic and Monetary Affairs, said Sunday in Brussels that the financial agreement between Romania and the International Monetary Fund and the E.U could be announced this week.
Romania’s Agreement With IMF, EC To Be Announced This Week - EU Commissioner
23 mart. 2009, 14:25, English

“We are negotiating, and I hope we will announce an agreement next week, with Romania,” Almunia said Sunday during a the Brussels Forum hosted by the German Marshall Fund of the United States.

Almunia also said some more crisis or needs for financial support in the non-euro members is to be expected.

“We are equipped for this with this increase balance of payment facility with the good cooperation with World Bank, EBRD, IMF for sure,” he added.

The European Council agreed last week to increase the E.U.’s bailout fund for the 11 countries outside the euro-area to EUR50 billion from EUR25 billion, if needed.

Romanian authorities are negotiating with the IMF, the E.U. and other international institutions a financial package that could amount to EUR19 billion.