IMF, disappointed by Romania. Aid program interrupted

The disbursement of the third tranche under the aid program with the International Monetary Fund has been put off, as the government failed to put in place the agreed programs and reforms before the deadline. A decision in this regard will be made after a new mission to review the country’s economic performance in January, sources closed to the issue said.

“The tranche due to be disbursed in December will be postponed. In early January, another mission is expected to arrive, to meet with the new government. After mid January, the disbursement of the tranche is due for approval by the board of International Monetary Fund. And this means that the country would receive the money with a month, month and a half delay, if everything was on track”, sources told NewsIn.

However, the majority of targets set for September 30 under the agreement have been met by the country.

IMF disbursed two tranches under the aid program of €6.57 billion. The third tranche of €1.5 billion was initially scheduled for mid December.

The European Commission has already postponed the disbursement of the second tranche of €1 billion, under the two-year aid deal of €5 billion.

IMF, European Commission and World Bank announced this morning a joint press conference at 14:00. At the media briefing the international institutions will present the preliminary conclusion of the mission in Romania.

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