“During talks with the prime minister and the central bank’s governor, we’ve decided to seek a new agreement with the IMF,” Basescu told a meeting with representatives of the IMF, the European Commission and the World Bank.
The new deal would be signed for a period of one to two years, he said.
In April 2011, Romania and the IMF signed a EUR3.6 billion 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.
Joint teams from the IMF, the EU and the World Bank arrived in Bucharest to discuss the country’s progress under the agreement.