IMF meets Prime Minister, political leaders and unions to wrap up loan negotiations

The representatives of the International Monetary Fund (IMF) will meet Premier Emil Boc, the leaders of the parliamentary parties and unions to carry on with the negotiations, vice president of the ruling Democrat Liberal Party (PDL) Gheorghe Flutur said, cited by NewsIn.
An IMF delegation has arrived in Romania on March 11 to assess the economy and negotiate with authorities a two-year accord, part of a multilateral financing package including other financial institutions as well. “As far as I know the IMF will conclude the negotiations these days,” Flutur said. The delegation will leave Romania on March 25, according to the mission schedule.

The loan Romania would contract from the IMF and other European institutions is a preventive move aimed at consolidating the central bank’s reserves and supporting the weaker leu in a bid to resume lending, premier Boc said yesterday.

Romania could take 13 billion euros, of the 18 billion euro loan from the IMF while the rest of the money will be borrowed from the European Commission, the World Bank or other financial institutions, people close to the negotiations told NewsIn last week. So far, people involved in the talks say authorities will not be forced the raise any taxes or take unfriendly social measures.

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