Romania FinMin Says IMF Mission To Arrive After ECOFIN Meeting

Romania has just adopted its budget for 2010, a key condition for the IMF to release new tranches of a EUR13 billion loan, pending a new assessment mission of the country’s economic performance.

„Tuesday (January 19) I’ll be at the ECOFIN and I will return with the IMF delegation,” Vladescu told Prime Minister Emil Boc at a government meeting.

Romania and the IMF have signed a EUR13 billion standby arrangement in 2009, as part of a larger EUR20 billion package which includes funds from the EU, the World Bank and other international lenders.

So far, Romania received approximately EUR7 billion in IMF money, but the institution has put additional disbursements on hold due to political uncertainty following the government collapse in October last year.