Tuesday, March 24, 2009

Romanian President meets IMF delegation

Tuesday, March 24, 2009

BUCHAREST, Romania: Romanian President Traian Basescu met officials from the International Monetary Fund on Tuesday, a day before they wrap up a two-week visit to negotiate a bailout loan for Romania.

Romania is hoping to negotiate an emergency loan for euro18-20 billion ($24-26 billion) from the IMF, the European Union and the World Bank, said Mihai Tanasescu, the country's representative to the IMF last week.

In the Wednesday meeting, Basescu met Jeffrey Franks, the head of the IMF mission, and Juan Jose Fernandez Asolo, the IMF representative for Romania and Bulgaria.

IMF officials, European Union officials and World Bank representatives will hold a news conference Wednesday as they end their visit to discuss the loans.

Romania is the third EU country to request a loan, following Hungary and Latvia. It joined the EU in 2007.

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