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IMF To Visit Romania April 27-May 7

The International Monetary Fund will send a mission to review Romania’s progress under a EUR13 billion aid package during April 27 and May 7, Tonny Lybek, IMF representative to Romania, said Monday.
IMF To Visit Romania April 27-May 7
19 apr. 2010, 15:05, English

Lybek said the delegation will also discuss Romania’s medium-term economic evolution, during the annual Article IV Consultation.

Following the assessment mission, IMF will decide whether to disburse a fifth loan installment to Romania, worth EUR850 million.

Romania and the IMF signed last spring a EUR13 billion loan arrangement, part of a wider EUR20 billion bailout that includes funds from the EU, the World Bank and other foreign lenders.

In January, joint teams from the IMF and the European Commission visited Bucharest for the second and third reviews of the loan agreement. Following the mission, the IMF disbursed EUR2.4 billion to Romania.

So far, the Eastern European country has received around EUR11.5 billion from the total aid package.