IMF mission has first meeting with PM Victor Ponta as part of third review of stand-by agreement with Romania

Newsroom 29/01/2015 | 14:12

An IMF mission led by Andrea Schaechter had today a first meeting with Romanian Prime Minister Victor Ponta, according to Mediafax newswire. The mission will be in Bucharest between January 27 and February 10 for the third review of IMF’s ongoing stand-by arrangement with Romania, IMF representatives have previously stated.

This Sunday the IMF sent a letter to Romanian finance minister Darius Valcov as a reaction to the debate in Romania’s Parliament of draft bill on the insolvency of individuals. The letter warned that passing a personal insolvency law without adequately assessing its impact and without consulting all stakeholders could fail to meet the law’s objectives and could prove harmful to the local financial market.

The next day Ponta confirmed that the IMF has asked for an impact assessment study, adding that he is convineced that the mater will be discussed in Parliament, according to Mediafax.