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.

 

Related Articles

Owner of Romania’s Dedeman reportedly close to signing largest ever deal in the Romanian office segment

Dragos Paval, owner of Romania’s biggest DIY retailer Dedeman, is reportedly close to signing an agreement with Africa Israel Investments for the acquisition of an office building project in ... more

RBI doubles net profit y/y in Q1 as Russian business recovers

Raiffeisen Bank International (RBI), the second largest bank operating across Central and Eastern Europe by assets, reported that net profit almost doubled year-on-year to €220mn in the first ... more

Shares of Digi Communications drop as CEO of Romanian subsidiary is investigated for corruption

Shares in Digi Communications closed the day 4.1% down at RON39.5 (€0.86) per share on the Bucharest Stock Exchange on May 17, the day after they were floated. The company was hit by a ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss