Government and BNR go to Brussels for next IMF evaluation

Newsroom 11/09/2014 | 16:44

A delegation made up of Governmental and Central Bank representatives will be in Brussels next week to participate in the next evaluation of the IMF stand-by agreement. For the first time in Romania’s history of dealing with the IMF, World Bank and European Commission, the negotiations will take place outside of the country and without members of the political scene.

“The decision was made given the current political context of the upcoming election, both parties understand that the discussion should not be used for political reasons, given that they’re more technical in nature. IMF as a rule does not want to get involve in internal politics during times of election, but this evaluation need to take place”, according to government sources, quoted by Mediafax.

“We are going to meet in Brussels to discuss the recent economic developments and the current stage of implementation of the agreed commitments in the key fields of the programme. Our teams also intend to discuss with the Romanian authorities about the preparations for the 2nd budgetary rectification this year. The meetings will take place in Brussels, following an invitation from the European Commission. This will count as an informal exchange of opinions and not as an official assessment on our behalf,” said Guillermo Tolosa, the IMF representative in Romania and Bulgaria, quoted by Agerpres.

Bucharest IMF missions in the past would take place between a period of 10 days and two weeks. The talks in Brussels next week will be highly focused and only last four days, between Tuesday, September 16, and Friday, September 19.

The IMF delegation will be led by Andrea Schaechter, Istvan Szekely will represent the European Commission and the World Bank delegation will be led by Elisabetta Capanelli.

The Romanian Government will send several ministers to Brussels while the Central Bank will be represented by governor Mugur Isarescu, Floring Georgescu and Cristian Popa.

 

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