IMF Mission Meets Romanian Ctrl Bk Governor, Finance Minister

The IMF's mission came at the request of President Traian Basescu for its second review related to the standby loan granted to Romania, and the visit will end on November 9.

IMF Mission Chief for Romania Jeffrey Franks said a second mission of the fund might be needed to continue negotiations after the forming of a new Government.

Romania might receive a third EUR1.5 billion disbursement in December depending on the result of the second review of the country's economic progress.

Romania and the IMF signed in spring a two-year standby arrangement for EUR12.95 billion, as part of a wider EUR19.95 billion aid package the country took from the EU, the World Bank and other foreign lenders to cope with the recession.

Recently, the IMF said that a mission will be in Romania October 28 through November 9 to review the country's economic progress, reconsidering earlier plans to delay the mission until a new government is formed.

Romania has so far received around EUR7 billion from the IMF.

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