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IMF to decide on Friday if Romania gets the fifth installment of EUR 900m, official says

Publicat la 29.06.2010, 19:00:42

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IMF to decide on Friday if Romania gets the fifth installment of EUR 900m, official says
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The fifth installment would be available in two days time, according to the release.

Lybek is thus confirming the statements made by the Finance Minister Sebastian Vladescu.

The Romanian authorities proved their commitment towards their economic program, which is supported by the stand-by agreement, through identifying some compensatory measures after the decision of the Constitutional Court, Tonny Lybek also said.

Romania's representative at IMF, Mihai Tanasescu, said the Fund's board did not meet until now because of their own internal formalities, but IMF and the European Commission agree with the measures the government plans to introduce starting July 1.

The budget gap target agreed with IMF for the end of 2010 is of 6.8 percent of the gross domestic product (GDP).

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