imf loan

Romania won’t draw the last tranche from a EUR13 billion loan from the IMF, due to positive economic developments, President Traian Basescu said Sunday evening, adding the country will draw the last tranche of its loan from the EU.

The International Monetary Fund’s mission will recommend its Board to allow Romania allocate part of the coming two tranches from a total EUR12.95 billion aid to cover the country’s budget deficit, a top fund official said Monday.

Ovidiu Dontu, vice-president of the Suceava branch of Romania’s Social Democratic Party (PSD), said Friday that the social democrats considered seven conditions with respect to a potential IMF loan, which, if observed, will allow them to keep an open relation with their democrat liberal partners.

The International Monetary Fund presented to the Romanian delegation in Washington a series of conditions for a potential agreement, and a decision to inviting IMF experts to Bucharest to negotiate a loan will be made after the Romanian authorities analyze the proposed terms.