IMF To Visit Romania July 26 - August 4

The International Monetary Fund will send a mission to Romania between July 26 and August 4 for the fifth review of the country’s EUR13 billion loan agreement signed last year, the IMF said in a statement Monday.

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"The IMF review mission will evaluate Romania's recent economic performance and will discuss with the authorities the economic objectives for the coming year, including the 2010 budget, along with the policy measures and structural reforms needed to reach those objectives," said Tonny Lybek, IMF's Regional Resident Representative in Romania and Bulgaria.

Following the mission, the IMF will decide on whether to disburse Romania a new loan tranche, of around EUR900 million.

Lybek said a separate technical assistance mission from the IMF will arrive in Romania July 14 to work with experts at the fiscal authority ANAF on improving the country's tax collecting system.

The team will be sent at ANAF's request, Lybek added.

Friday, the IMF approved the disbursement of EUR913 million to Romania, following the completion of the fourth review under the standby agreement.

So far, Romania has received around EUR9.2 billion from the IMF.

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