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IMF Delegation To Discuss Romania’s 2010 Budget

An International Monetary Fund delegation arrived Monday in Bucharest to discuss the draft budget for 2010 jointly with the Finance Ministry representatives, and to prepare the second review of the stand-by agreement, which might take place in January, after the new government is formed.
IMF Delegation To Discuss Romania's 2010 Budget
14 dec. 2009, 11:26, English

„During December 14 to 16, a small technical team from the IMF and the European Commission (EC) will visit Bucharest. They will continue the technical work on the 2010 budget with experts of the Ministry of Public Finance,” Tonny Lybek, IMF Regional Resident Representative for Romania and Bulgaria, said Monday in a statement.

According to Lybek, the visit also serves as preparation for the review mission to complete the second review of Romania’s stand-by arrangement.

„The review mission could return in January, once a new cabinet has been formed and has elaborated its program,” Lybek said.

The IMF official said last week that the fund did not established a date for a new mission to Bucharest but its representatives would arrive as soon as the local authorities are ready.

In spring, Romania agreed with the IMF on a EUR13 billion stand-by loan, part of a EUR20 billion package that includes funds from the European Commission and other international lenders.

In November, the IMF concluded its assessment mission earlier than scheduled, saying that will return to Romania after the country’s political situation is resolved.