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IMF To Start Preliminary Talks On New Romanian Loan In Oct – Official

The International Monetary Fund on Friday agreed to hold preliminary talks that could lead to a new loan agreement with Romania during the fund’s upcoming mission to the country in October, said Mihai Tanasescu, Romania’s representative to the IMF.
IMF To Start Preliminary Talks On New Romanian Loan In Oct - Official
Andrei Mazurchievici
24 sept. 2010, 19:11, English

„The IMF board decided to hold preliminary discussions for a new loan to Romania in October, so the exact form of the agreement could be established early next year,” Tanasescu told MEDIAFAX.

Earlier Friday, the IMF approved the disbursement of around EUR900 million to Romania, following a new review of the country’s performance under a EUR13 billion standby agreement.

The loan agreement is part of a larger EUR20 billion aid package signed last year that includes funds from the European Commission, the World Bank and other international lenders.

So far, Romania has received EUR10.7 billion in IMF money, EUR3.65 billion from the Commission and another EUR300 million from the World Bank.

Romanian President Traian Basescu said recently that the country plans to enter a new loan agreement with the fund in 2011.