Romania Reaches Agreement With IMF on $300 Million Loan Tranche
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Romania reached a staff-level agreement with the International Monetary Fund on the first review of its third loan accord since 2009.
The government must continue with state asset sales and maintain fiscal rigor to unlock a tranche of 194.7 million Special Drawing Rights ($298 million) from the 2 billion-euro ($2.7 billion) loan provided by the IMF, Andrea Schaechter, the lender’s mission chief to Romania, told reporters in Bucharest today at the end of a two-week review. Romania doesn’t plan to draw on the money.