The new International Monetary Fund (IMF) negotiator for Romania will be introduced to the Romanian authorities during the IMF’s fifth review of the country’s agreement in late April, according to the Romanian media. The replacement is scheduled as current IMF negotiator, Jeffrey Franks' mandate will soon come to the end.

Jeffrey Franks joined the IMF in 1993, as economist in the Fiscal Affairs Department. In December 2008, he became mission chief for Romania.

Romania currently has a stand-by agreement of EUR 3.6 billion with the IMF, which was approved a year ago. The IMF agreed to disburse an additional EUR 505 million to Romania after the fourth review, bringing the total resources that are currently available to the country to about EUR 2 billion.

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