Romania’s Additional Letter To IMF Deal Won’t Bring Radical Changes – Official

The initiatives will regard any flagged area, but the assessment mission will also look to the areas where progress has been made, Franks said, adding this is standard procedure and it doesn’t necessarily imply that the agreement’s targets will be modified.

Earlier Thursday, Romanian Finance Minister Sebastian Vladescu said Romania and the IMF were considering a possible revision of the standby arrangement to include additional measures.

He said the IMF has drafted a document on the matter, which cannot be made public, because preliminary talks were still going on.

An IMF mission arrived in Bucharest Wednesday to assess Romania’s performance under the standby deal. If the mission’s report is positive, the IMF may disburse two new tranches to the country, totaling EUR2.3 billion.

Since it signed the agreement in March last year, Romania received nearly EUR7 billion from the IMF in two installments. A third disbursement should have arrived in December last year, but the IMF temporarily halted the program due to political instability.