Thursday, March 27, 2014

IMF signs off on latest review of Romania aid program

(Reuters) - The International Monetary Fund on Wednesday signed off on their first and second reviews of Romania's aid program, releasing their next tranche of aid to Bucharest.

The IMF board's sign-off means Romania is on track with the conditions of its 4-billion-euro ($5.5 billion) aid deal from the Fund. Romania will now get an immediate disbursement of 436 million euros.

A split in Romania's ruling coalition threatened the IMF deal and worried investors. But the country's president threw his weight behind the latest review last month after a weeks-long standoff with the government. The deal is seen as key to the credibility of one of the European Union's poorest states. ($1 = 0.7254 Euros) (Reporting by Anna Yukhananov; Editing by Paul Simao)

No comments: