IMF mission arrives to Romania today

The mission of the International Monetary Fund (IMF) will arrive to Bucharest today for a new review of the stand-by agreement the IMF and Romania have under way.

The delegation will be led by Jeffrey Franks (in picture), chief negotiator for Romania, who will stay one day after the end of the evaluation, thus leaving on May 9th, says Agrepres news wire. This is Franks’ last visit to Romania in this capacity.

“Mr. Franks will be accompanied by Mr. Erik De Vrijer, who will become head of the mission for the following evaluation. The IMF mission will take place at the same time as the teams of the European Union and the World Bank,” according to a pres release quoting Tonny Lybek, IMF’s resident representative in Romania and Bulgaria.

The management board of the IMF approved on March 22 the fourth evaluation of the stand-by agreement, placing at Romania’s disposal a new installment of EUR 505 million. In total, Romania has received nearly EUR 2 billion from the IMF.

Otilia Haraga

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