“Technically, it would be an extremely tight program to disburse the tranche in January, but we’re working on the agenda. A mission will arrive in January, and as soon as loan talks end, we will rush the approval procedures with the board. The third tranche will most likely be disbursed in February”, said Franks.

He said the meeting with the National Bank of Romania has been “very productive”, and addressed key monetary and financial issues. He didn’t rule out the possibility of disbursing the third and fourth tranche at the same time. “We may disburse the tranches at the same time, but we are still in talks and the calendar hasn’t been finalized yet”, he added.

Franks has reaffirmed Romania’s targets under the program, namely to reduce budget gaps in the coming years. IMF mission chief met in the afternoon with president Traian Basescu and prime minister Emil Boc.