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IMF: Approving harsh measures is a stage preceding program with Romania

The approval of fiscal measures proposed by the Romanian government is a preceding stage in carrying out program with Romania, said the IMF spokesperson Caroline Atkinson at a press conference held in Washington.

The contestation of measures adopted by the Romanian government with the Constitutional Court is a correct procedure, the IMF spokesperson said.The fiscal measures suggested by the Bucharest government have to be approved by the Constitutional Court first and the fact that they were contested is a correct procedure, the IMF spokesperson commented upon the request of a foreign journalist interested in the situation in Romania.'The IMF Board is scheduled to discuss the report concerning Romania on 28 June and the date stands,' Mihai Tanasescu Romania's representative with IMF said on Thursday.

FinMin: Fifth tranche of IMF loan disbursed to Romania on June 28

The International Monetary Fund (IMF) will disburse on June 28 the 5th tranche of the loan to Romania, Public Finance Minister Sebastian Vladescu on Thursday told a televised show. The fifth tranche is worth 850 million euros.

At the end of June, the IMF will unlock the money to Romania and it will flow directly to the National Bank of Romania (BNR); the EU tranche, which is due in later, will be directed to the Ministry of Finance.The EUR 20 billion financial assistance package to Romania is supported by the IMF (12.9 billion euros), the European Commission (five billion euros), the World Bank (one billion euros) and other international lenders. So far, Romania received almost 9.3 billion euros from the IMF, 2.5 billion euros from the EU and 300 million euros from the WB.

The IMF Board might discuss the fourth report on Romania's economic program in the second half of June. If the report is approved, Romania will receive the fifth tranche worth 768 million SDR (0.85 billion euros) of the IMF loan.

Sursa: http://www.actmedia.eu

Tags: romania billion euros tranche measures program bnr

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