IMF interrupts negotiations with Romania, continues technical discussions during ongoing talks for new Govt.

The International Monetary Fund and the European Commission will cease negotiations with Romania but will continue technical discussions while in the country, after the Government was overthrown in Parliament today (April 27 ). An IMF and EC delegation is currently in Bucharest to evaluate Romania's financial agreement. Jeffrey Franks, the head of the IMF mission to Romania, also brought the future head of mission, Erik Jan de Vrijer, and who came to Romania to understand the country before his first official visit as head of mission.

IMF will continue talks with Romanian officials about macroeconomic targets and the criteria that still needs to be fulfilled, and will stay in the country for a 'couple of days', according to Mihai Tanasescu, Romania's representative at the IMF. The delegation was supposed to stay in Romania until May 5. Romania's government was overthrown after a vote of no confidence gained 235 votes earlier today in the country's Parliament, four votes more than the minimum needed for to pass. The Government led by Mihai Razvan Ungureanu, the shortest government, will leave office after two months. Union leader Victor Ponta said the opposition was awaiting the name of the new PM-designated from the country's president Traian Basescu, who was expected to make the announcement this afternoon. Politicians and commentators have so far pointed out the high possibility of Ponta himself being nominated to create and lead the Government. Ponta is running the Social Democratic Party (PSD), part of the opposition alliance which helped overthrown the Government. editor@romania-insider.com