Prima pagină » English » IMF: New Mission To Visit Romania Late April-Early May

IMF: New Mission To Visit Romania Late April-Early May

A new mission of the International Monetary Fund will arrive in Bucharest late April or early May to assess Romania’s compliance with the terms set under a EUR13 billion loan package, IMF mission head Jeffrey Franks said Wednesday.
IMF: New Mission To Visit Romania Late April-Early May
27 ian. 2010, 12:58, English

Franks said the next mission might focus on Romania’s progress regarding a series of reforms, including the fiscal responsibility law, which must be adopted in March, or the fiscal reform due for implementation in April.

The country’s quarterly performance regarding the budget deficit will be analyzed as well, Franks added.

He said Romania should not have difficulties in repaying its loan to the IMF, adding that the authorities should not need to direct new disbursements to finance the budget deficit in the future either.

Romania and the IMF signed a EUR13 billion loan agreement last year, part of a wider package which includes funds from the European Commission, the World Bank and other lenders.

So far, Romania received roughly EUR7 billion from the IMF.

On Wednesday, an IMF mission concluded an evaluation of the country’s progress under the agreement and the institution is expected to disburse another EUR2.3 billion to Romania mid-February, pending a board approval.