IMF Plans Ambitious Reforms In Romania In ’10 – Official

Franks added that he is optimistic the country will register significant progress in 2010, and the economy will return to growth.

The standby agreement between Romania and the IMF was never compromised, but some delays were necessary due to the recent presidential elections and the political crisis, he said at a Euromoney seminar.

An IMF mission arrived in Romania Wednesday for a new assessment of the country’s economic performance in view of disbursing another EUR2.3 billion from the loan.

Romania and the IMF signed last spring a EUR12.95 billion two-year arrangement as part of a wider EUR19.95 billion aid package which includes funds from the EU, the World Bank and other international lenders.