Joint delegation of the IMF, World Bank and EC comes to Bucharest after referendum

A joint delegation of the International Monetary Fund (IMF), the European Commission (EC) and World Bank will be in Bucharest between July 31 and August 13 for the sixth evaluation mission of the stand-by agreement with Romania, according to Tonny Lybek, the IMF representative for Romania and Bulgaria.

The delegation will meet authorities, as well as representatives of the unions, owners’ associations, banks, organizations, civil society and political parties, according to an IMF press release.

The joint delegation postponed its visit to Romania for the sixth review of a EUR 3.5 billion precautionary agreement until after the referendum to be held on July 29, Prime Minister Victor Ponta said previously.

The stand-by agreement Romania signed with the IMF is in value of EUR 3.6 billion. It is completed by an agreement with the European Commission for additional funds of EUR 1.4 billion and by a loan of EUR 400 million from the World Bank.

Otilia Haraga

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