Joint IMF-EU team to visit Romania starting July 17

By bne IntelliNews July 10, 2013

A joint IMF-EU team will pay a visit to Romania starting from July 17 until the end of the month, the finance ministry said in a press release.

Representatives of the EU member states attending ECOFIN on July 9 have reportedly agreed with a new follow-up agreement between Romania and the IMF, the release also informed.

The Fund has already completed on June 26 the previous 24+3-month agreement with Romania, which followed an earlier 2009-2011 agreement aimed at helping the country through the first, toughest recession years. Romania borrowed some EUR 20bn from IFIs under 2009-2011 programmes but treated as precautionary the 2011-2013 programmes.

Nonetheless, it remains unclear whether the EU would join Romania’s would-be new agreement with the Fund – as it was the case with the previous two IMF-Romania agreements. Rumours have been recently circulated about the EU avoiding a new agreement with Romania – though no official comment has been made in this regard.

The EU has provided BoP support programmes to Romania as part of the country’s broader agreements with IFIs since 2009. The final decision on Romania’s agreement would be taken at the ECOFIN  meeting on October 15, the release hints.

 

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Moldova’s largest lender maib puts Bucharest exchange listing on hold

The largest bank in Moldova, Moldova Agroind Bank (main), announced it is postponing its plan to list on the Bucharest Stock Exchange (BVB) because certain provisions in Moldovan legislation make the ... more

Romania’s leading financial group Banca Transilvania reportedly takes over BRD Pensii

Banca Transilvania, the leading financial group in Romania by assets, has reportedly reached the stage of agreeing technical and legal details for the takeover of BRD Pensii division from BRD-SocGen, ... more

Romania’s leading lender Banca Transilvania takes over OTP Bank’s subsidiary

Romania’s largest financial group by assets, Banca Transilvania (BVB: TLV), announced that it had signed a contract ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    9 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    6 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    3 days ago
  5. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    9 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    27 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    1 month ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    29 days ago
  5. Saudi Arabia to scale back plans for Neom city
    16 days ago

Reports

Dismiss