Tuesday, February 23, 2010

Romania Receives 3rd, 4th IMF Tranche


The International Monetary Fund, IMF, will this Tuesday disperse the third and fourth tranches of the IMF loan, amounting to 2.45 billion euro, media report.

IMF directors voted to disburse the money last week.

‘This is a signal to all markets that Romania is on the right path. The decision of the IMF executive board indicates seriousness and stability, which will become visible in the time to come in a boost in investor confidence and easier access to the capital markets,’’ IMF representative for Romania Mihai Tanasescu told media.

As a signal of a new found confidence, last week Finance Minister Sebastian Vladescu said his ministry plans to issue Eurobonds in the first quarter of 2010 and will start a presentation tour in two weeks’ time. He said Romania and the IMF have agreed on a government deficit of 5.9 per cent of GDP in 2010,

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