IMF comes to Bucharest this month

Romania has so far drawn two of the eight instalments set in the Fund's external funding package.The package is divided into eight instalments for a period of two years, until 2011. For 2009, three instalments were scheduled, out of which Romania drew only two - an instalment of 5 billion euros that got to the National Bank of Romania and another one of 1.7 billion special drawing rights (SDR), that reached the Finance Ministry.

The external loan of nearly 20 billion euros will come in eight instalments from the IFM, five instalments from the European Commission and three from the World Bank. Minister of Public Finance Sebastian Vladescu is confident the external partners will continue to support Romania, which will obtain a credit rating improvement in 2011.He said that it is possible to conduct more flexible discussions with the international partners, in the context of the agreement with IMF, on different development projects, including the drawing in of European funds.

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