Head of IMF mission to Romania: The agreement with the IMF will continue

Romania’s agreement with the International Monetary Fund (IMF) will continue even after the resignation of Emil Boc, said Jeffrey Franks, head of the IMF mission to Romania, yesterday.

 “I don’t see any reason for which this event would have any impact on the agreement. We expect this agreement to continue,” said Franks.

 The representatives of the IMF, the European Commission and the World Bank ended last week the fourth mission for the evaluation of the stand-by cautionary agreement with Romania and recommended the release of a new installment of approximately EUR 505 million.

 In March last year, the authorities in Bucharest decided to prolong the agreement with the IMF with a stand-by agreement of approximately EUR 3.5 billion.

 “We expect that any government that comes will be a good partner of discussions,” said Franks.

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