Talks With IMF On Follow-Up Loan Deal To Begin On January 20 – Romanian PM

A delegation of experts from the European Commission and IMF will return to Bucharest on January 20, said Boc. He added that no figures have been put forward yet and the new deal, if one is signed, will likely be a frame-agreement aiming to prevent Romania’s possible future economic failures.

Romania and the IMF last year signed a EUR12.95 billion two-year standby agreement, as part of a larger EUR19.95 billion package which includes funds from the EU, the World Bank and other foreign lenders.

Romanian President Traian Basescu said recently that the country plans to enter a new loan agreement with the fund after the current one will end in May 2011. The follow-up agreement will most likely take the shape of a precautionary loan and is expected to also include European Union financing.