Next IMF payment to be approved in August

Romania could receive its next bailout tranche from the International Monetary Fund (IMF) in the first half of August. “The next review mission, headed by Jeffry Franks, IMF mission chief for Romania, is scheduled to visit Bucharest during the period July 26 to August 4, 2010.

The sixth disbursement of about EUR 900 billion will become available after two working days. The IMF visit will take place jointly with teams from the European Commission and the World Bank,” said Tonny Lybek, the IMF’s regional representative in Romania and Bulgaria.

The review mission will evaluate Romania’s recent economic performance and fund representatives will discuss with the authorities the economic objectives for the coming year, including the 2010 budget, along with the policy measures and structural reforms needed to reach those objectives.

According to Lybek, at the request of the National Agency for Fiscal Administration (ANAF) a technical assistance mission from the IMF’s Fiscal Affairs Department (FAD) will visit Bucharest between July 14 and 28, to work with ANAF experts and advise on measures to improve revenue collection.

Dana Ciuraru

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