Friday, November 20, 2009

IMF Official: Romania Likely To Get Next Loan Mar -MediaFax

BUCHAREST (Dow Jones)--The International Monetary Fund is likely to disburse the next two tranches of its EUR13 billion loan to Romania in mid-March, the Mediafax news agency reports fund representative Tonny Lybek as saying Thursday.

Lybek said a new IMF mission will visit Romania at the end of January or early in February to assess the country's economic performance and decide on the next aid tranches.

In the spring, the IMF agreed to provide Romania with the EUR13 billion standby loan, as part of a EUR20 billion aid package including funds from the European Commission and other international lenders.

The fund has already disbursed around EUR6.6 billion to Romania in two payments, but has postponed a EUR1.5 billion third tranche due for December. The fourth tranche has been set at EUR820 million.

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