IMF Mission to Propose Romania Accord Extension on Reform Delays

The International Monetary Fund extended a review of Romania’s loan accord until the end of June, after Prime Minister Victor Ponta asked the lender to prolong the agreement to complete more reforms.

The IMF’s board will meet in June to decide on Romania’s progress under the accord, which will bring the current review to completion, Mission Chief Erik de Vrijer said in Bucharest today. The Balkan nation must sell minority stakes in some energy companies, such as Transgaz SA and Complexul Energetic Oltenia SA, before the Washington-based board meeting, he said.