Teams from the European Commission and the World Bank will joint the IMF’s team, led by Erik de Vrijer, head of the fund’s mission to Bucharest.
The IMF experts will discuss with the Romanian authorities recent economic developments and the economic outlook, as well as the fiscal and monetary policy stance and progress in structural reforms, the statement reads.
“In light of the parliamentary elections that will be held in Romania on December 9, the seventh review under the country’s IMF Stand-By Arrangement will be postponed,” the fund said. “The team that will discuss performance under the program and seek agreement on the measures needed to complete the review will come to Bucharest once a new government is in place.”
In April 2011, Romania and the IMF signed a EUR3.6 billion loan agreement, a successor to a larger EUR20 billion international bailout package received during 2009-2011.
The new 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.