IMF to begin second review of Romania loan program

IMF mission chief for Romania, Jeffrey Franks, said in a statement a staff mission would visit Bucharest for talks between Oct. 28 and Nov. 9 and will include teams from the European Commission and the World Bank."During this visit, the IMF mission will evaluate the country's recent economic performance and will discuss with authorities the economic objectives for the coming year, along with the policy measures and structural reforms needed to reach those objectives," Franks said.

Forbes: IMF calmed fears in Romania but electoral ambitions and the economic reality might postpone the loan

IMF calmed Eastern European fears regarding the total financial crisis in the region. In the last months, foreign banks in the economies most hit by the crisis - Romania, Hungary and Serbia - engaged to support their branches, Forbes informs in an editorial signed by Nouriel Roubini, professor at Stern Business School at New York University. Even with IMF aid, these economies are not immune to the crisis. A special interest is given to the difficulties faced by Eastern European governments who attempt to balance their electoral ambitions and economic realities, the editorial reads. IMF showed flexibility in negotiations with European states so far and the Fund relaxed its requirements regarding the agrarian reform in Ukraine and accepted higher budgetary deficit targets. The IMF announced last Thursday that they will postpone the evaluation visit at Bucharest until the clarification of the political situation and until the new government is formed.