An IMF mission headed by Andrea Schaechter will be in Bucharest starting today (October 22) until November 5 to discuss the first review of the IMF's stand-by arrangement with Romania, which was approved last month.

The IMF delegation, together with teams from the European Commission and the World Bank, will meet with Romanian representatives of political parties, trade unions, business associations, banks and civil society for talks about recent economic developments and priorities for economic reforms.

The Executive Board of the International Monetary Fund (IMF) approved on September 27 a new stand-by arrangement (SBA) for Romania of EUR 1.98 billion.

The new arrangement has a duration of two years and the Romanian authorities intend to treat the SBA as precautionary.

This is Romania’s third agreement with the IMF since 2009.

Irina Popescu, irina.popescu@romania-insider.com