IMF to discuss new loan for Romania and seventh review end of March
The IMF has agreed to offer Romania EUR 3.6 billion in assistance, while the European Commission loan will reach EUR 1.4 billion. The new IMF loan will include performance criteria on arrears, as the country still records major problems in this respect, according to Franks.
Romania has had a EUR 20 billion financing agreement with the IMF, the EC and the World Bank. Romanian president Traian Basescu has recently announced the country will not need to draw on the last tranche from the IMF, some EUR 1 billion, and will only use the last loan disbursement from the EC, as the country has already weathered the storm.
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