Romania will most likely not sign a new stand-by agreement with the International Monetary Fund IMF starting next year, according to Guillermo Tolosa, resident representative for Romania and Bulgaria.

“Our expectation is that Romania will be able to move forward on its own starting next summer and will no longer need a stand-by agreement,” he answered when asked by foreign investors about the possibility of a new agreement between Romania and the IMF, reports local Wall-street.ro

Guillermo Tolosa was present at a meeting with Romanian and foreign investors, organized this week by Franklin Templeton, the manager of Fondul Proprietatea.

Teams of the IMF and the European Commission visited Bucharest between June 2 and June 12, to conduct discussions on the third review under the IMF Stand-By Arrangement (SBA). IMF after visit in Romania: Some issues remain outstanding, discussions to continue from Washington.

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