IMF board meets on July 2nd to discuss about Romania, new mission on July 20

The International Monetary Fund board will meet on Friday, July 2

nd

, to discuss the fourth revision of the stand-by agreement with Romania, which could unlock the fifth loan installment to Romania, around EUR 900 million. If the board approves this installment, the money should go into the Romanian Central bank reserves within two working days. The meeting was initially established for this Monday, but was delayed after the Romanian Constitutional Court ruled out some of the measures proposed by the Romanian Government and the “The Romanian authorities have shown strong commitment to their economic program—which is supported by the stand by agreement —by quickly identifying compensatory measures after the ruling of the Constitutional Court,” said Tonny Lybek, regional representatives of the IMF in Romania and Bulgaria. An IMF mission will come to Romania on July 20 to evaluate the country's economic performances in the first half of the year and to analyze this year's prognosis.