A mission of the International Monetary Fund, led by the chief of the IMF’s Romania mission Jaewoo Lee, will visit Bucharest between November 6 and 12.
“The IMF team will evaluate the recent economic and financial developments in Romania, will update macroeconomic perspectives and discuss the 2019 budget. The visit will also be useful to prepare for the consultation mission on Article IV, which will take place at the beginning of next year,” said last week the IMF representative for Romania and Bulgaria Alejandro Hajdenberg.
Romania does not currently have a financing agreement with the IMF, but the financial institution evaluates the Romanian economy every year, based on Article IV consultations.
The consultations are a supervisory exercise that is mandatory for each member states. The purpose of Article IV consultations is to examine the financial and economic situation at a national level and to come up with general recommendations for monetary, fiscal and economic policies which can ensure stability and a positive evolution of the economy.