“I’m confident that a new partnership with the IMF will be a very important step for Romania,” said Mihai Tanasescu, EIB Vice-President and Romania’s former representative to the International Monetary Fund.
Romania plans to obtain a new loan agreement with the IMF once its existing EUR3.6 billion deal ends in 2013. The government didn’t say how much it hopes to secure under the follow-up deal.
In April 2011, Romania and the IMF signed a precautionary loan agreement, successor to a larger EUR20 billion international bailout package received during 2009-2011.
The agreement is supplemented by a EUR1.4 billion loan from the European Commission and another EUR1 billion from the World Bank. So far, the authorities in Bucharest have not drawn any funds.