Representatives of International Money Found (IMF)  confirmed their visit to Bucharest between July 31 and August 13, 2012 for a new evaluation of the stand by agreement with Romania, part of the ongoing schedule of consultations. The IMF delayed its review mission to Romania after the presidential impeachment referendum scheduled for July 29.

The IMF team will be joined by representatives of the European Commission (EC) and World Bank will also be present in Bucharest. The Romanian authorities have so far continued the policy of not drawing on funds available via the stand-by agreement with the IMF, treating the available cash as an emergency lifeline.

Romania has an agreement with the IMF for EUR 3.6 billion, plus a similar agreement with the European Commission makes an additional EUR 1.4 billion available, as well as  credit line of EUR 400 million from World Bank.

Ioana Toader, ioana.toader@romania-insider.com

(photo source: IMF)