Thursday, January 21, 2010

IMF may raise Romania 2010 growth view - paper

BUCHAREST, Jan 21 (Reuters) - The International Monetary Fund is in talks with Romania over an upward revision of its 2010 economic growth forecast of 1.3 percent, Bucharest's IMF representative in Washington was quoted as saying by a newspaper. 

The IMF started a one-week review mission in Bucharest on Wednesday and is expected to unlock a 20 billion euro ($28 billion) international aid deal after the swift approval of a tight 2010 budget earlier this month.

"The last number was 1.3 percent, but at this moment it is being discussed whether this potential growth is real or can be hiked," Mihai Tanasescu was quoted as saying in Thursday's edition of financial daily Ziarul Financiar.

The IMF put its deal with Bucharest on hold last year due to a months-long political crisis which ended with a presidential election and the appointment of a centrist cabinet which promised to respect its international commitments.

Markets have so far been buoyed by the prospect of the disbursement of about 3.3 billion euros in aid tranches from the IMF and the European Commission and the leu has outperformed regional currencies this year.

At 0802, the leu traded at 4.135 per euro, virtually flat from the previous close.

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