IMF board to discuss Romania's latest mission review on Friday

Romania stands high chances in Friday's International Monetary Fund (IMF) analysis of the fifth evaluation mission report on the country meeting its obligations assumed in the Stand-By Agreement with the Fund, so the Supplementary Letter of Intent will be positive, Romania's representative to the Fund Mihai Tanasescu told Agerpres. "The IMF Board on Friday will discuss the fifth revision of the Romanian program and the report that will be presented clearly shows that the measures on the state budget taken early July are efficient and will lead to achieving the fiscal deficit targets already set. And last but not least, the report shows that there is consistency in applying these measures, which, though unpopular, are highly necessary for the future health of Romanian finances," Tanasescu said. The report also mentions that the two main actions agreed upon with the July 26-August 4 mission to Bucharest headed by Jeffrey Franks, such as passing the pension law and paying the public health arrears, have been accomplished. "So, all the conditions for positive talks on Friday have been met, which would lead to the release of the tranche to the National Bank of Romania meant to cover the external payments balance deficit," Tanasescu concluded. The Board sanctioning the report will lead to the release of the sixth tranche worth EUR 900 million of the EUR 12.9 billion loan granted by the Fund. AGERPRES