IMF Mission To Visit Romania During Jan 20-27

„Subject to the completion of the reviews by the IMF’s Executive Board, both the third disbursement (SDR 1,409 million or about EUR1.5 billion) and the fourth disbursement (SDR766 million or about EUR0.8 billion) of the IMF-supported program would become available,” said Tonny Lybek, IMF Regional Resident Representative for Romania and Bulgaria.

The IMF mission, headed by Jeffrey Franks, will discuss both the second and the third review of Romania’s economic program, Lybek said.

Romania and the IMF have signed a EUR13 billion standby arrangement in 2009, as part of a larger EUR20 billion package which includes funds from the EU, the World Bank and other international lenders.

So far, Romania received approximately EUR7 billion in IMF money, but the institution has put additional disbursements on hold due to political uncertainty following the government collapse in October last year.