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IMF, Romania Discuss New Loan Agreement – Employers’ Assoc

Romanian authorities and the International Monetary Fund are discussing a possible new loan to the eastern European country, the head of Romanian employers’ confederation UGIR-1903 said Tuesday, citing talks with IMF mission chief Jeffrey Franks.
IMF, Romania Discuss New Loan Agreement - Employers’ Assoc
27 iul. 2010, 12:43, English

„Franks admitted talks are ongoing (…), including about a loan,” said Cezar Coraci, president of UGIR-1903.

Coraci said details about a possible new loan are still sketchy and the authorities haven’t forwarded any amount yet. The current discussions with the IMF focus on public investments, government arrears and attracting European funds, he added.

On Monday, Franks said the IMF and Romanian government are bound to discuss about continuing their relationship sometime in the future, adding that the authorities in Bucharest have voiced interest in a new collaboration.

However, discussions about a new loan agreement are premature at this point, Franks said.