The authorities in Bucharest and IMF officials are negotiating a new loan program for Romania, following the completion of two such agreements between 2009 and June 2013.
“After the first discussions, the parties have agreed upon a growth estimate of 1.9% for this year. The IMF had already improved its forecast to 1.8% from 1.6% initially and, after further analysis, the parties have concluded that a growth level of 1.9% would be acceptable,” people close to the negotiations told Mediafax.
An IMF mission will be in Bucharest until July 31 to discuss a potential follow up agreement with Romania.
Romania and the IMF have signed a two-year EUR3.6 billion loan agreement in 2011, following the completion of a larger EUR13 billion deal secured in 2009. The agreement was supplemented by a EUR1.4 billion loan from the European Union and another EUR1 billion from the World Bank. The country has not drawn any funds under the second program.
Romanian Prime Minister Victor Ponta said earlier this week that the new deal might reach between EUR3 to EUR5 billion.