IMF To Revise Romania’s 2010 Economic Forecast

„I’d say that EBRD’s forecast is pessimistic,” said Jeffrey Franks, head of the IMF mission to Bucharest.

In its June forecast, the IMF said Romanian economy is expected to stagnate or decline by 0.5% this year, from a 7.1% contraction a year earlier.

Joint teams from the IMF and the European Union arrived in Bucharest earlier Monday for the fifth review of Romania’s EUR20 billion aid package signed in 2009.