IMF Mission To Romania To Present Conclusions On Monday

Publish date: 10-08-2009
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The delegation of the International Monetary Fund (IMF) will present in a press conference on Monday at 13:30 local time the conclusions of the first evaluation of the stand-by loan agreement with Romania approved by the board of the institution in May, the IMF said on Sunday.

The IMF delegation, led by Jeffrey Franks, arrived in Bucharest on July 28 for the first assessment of the stand-by loan agreement with Romania.

Romania agreed with the IMF a EUR12.95 billion stand-by loan, as part of a EUR19.95 billion financial rescue package that also includes funds from the European Commission and other international institutions.

The first tranche, worth EUR5 billion, was released in May and entered the central bank's reserve.

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