Letter from IMF has not arrived yet

Yet, Finance Minister Gheorghe Pogea admitted today in Parliament the letter has not reached the receiver so far.

Last week, the premier said the government was officially announced that between April 14-20 the IMF will send the letter while from May 4 to 6 the external loan will be okayed in the board of the fund and the European Commission, NewsIn informs.

The prime minister stressed Romania already completed one of the four measures required by the fund – the budget revision.

The country will get a two-year 20-billion euro loan from the IMF, the EC, the World Bank and other international lenders to help prop up the economy pretty shaken by the crisis.

However, both the IMF and the EC condition granting the money by adopting certain fiscal and salary policies, after the budget deficit widened above 5 percent of the gross domestic product last year.

The first installment of the loan, worth 5 billion euros, could enter Romania by May 15.

Romania’s Cabinet will get the official letter from the International Monetary Fund (IMF) on April 24 and should in the meantime focus on carrying out the conditions imposed by the fund in order to absorb the money borrowed, government secretary with the Finance Ministry Gheorghe Gherghina said.

Earlier today the minister, Gheorghe Pogea, said the letter has not arrive yet despite the premier’s recent statement it should get here by April 20.

Last week, the premier said the government was officially announced that between April 14-20 the IMF will send the letter while from May 4 to 6 the external loan will be okayed in the board of the fund and the European Commission.

The prime minister stressed Romania already completed one of the four measures required by the fund – the budget revision.

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