IMF, EC and World Bank to review new agreement with Romania this month

A joint team formed of IMF, the World Bank and the European Commission representatives will be in Bucharest between July 20 and August 1, for the second evaluation of the stand-by agreement. Officials of the international institutions will meet with Romanian authorities and representatives of political parties, unions, businesses, banks and civil society, to analyze reforms and how the established targets were respected for the first half of this year. The International Monetary Fund Board approved in June the first review of the precautionary up deal with Romania and will make the second tranche available, worth around EUR 480 million. In March, Romania and the IMF signed a EUR 5 billion loan agreement, successor to a larger EUR 20 billion bailout package that ended in April this year. Irina Popescu, irina.popescu@romania-insider.com