Romania to send official letter to IMF for current loan extension, new agreement
Earlier this year, the Government asked the IMF to discuss the stand-by agreement evaluation in its Board in May, so that the country has time to fulfill some preconditions, such as pledged but delayed privations and the budget. A new IMF mission would then be scheduled to arrive in Romania in July.
Romania is currently in an EUR 5 billion stand-by loan agreement with the IMF and the European Union, which can be used as a safety net, in case of necessity. The new loan agreement was signed in 2011, after the previous EUR 20 billion deal with the IMF, EU ended.
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