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IMF board to decide on Friday whether to disburse next tranche to Romania

The Minister of Finance, Sebastian Vladescu said the board of International Monetary Fund will meet on Friday, July 2 to decide whether to disburse the fifth next tranche to Romania.'The budget deficit target agreed with the Fund is 6.8%', said Vladescu.

As for tax hike on homes, it was removed from the Fiscal Code published yesterday and will be published tomorrow with no amendments under a new ordinance', said Vladescu.The board of IMF hasn't held a meeting so far on its own internal formalities, and 'both the International Monetary Fund and European Commission have applauded the measures Romanian government will introduce as of July 1', said Mihai Tanasescu, Romania's representative to IMF.'The board of the IMF, that will meet this week I hope, will give a clear signal to Romania. This delay is not related to the fact that Romania hasn't fulfilled all its commitments but to certain rules that must be observed in the Fund regarding the circulation of documents. And therefore, it is an internal issue of the Fund', said Tanasescu on Monday.

IMF mission in Romania, expected on July 20

A mission from the International Monetary Fund will return to Bucharest on July 20 to assess the first-quarter economic performance of Romania, said Sebastian Vladescu, minister of public finance.

Vladescu said the IMF board will meet on July 2 and that Romania will receive the next tranche soon.

'After July 20, IMF will come to Romania to assess the economy and its performances in the first quarter 2010. Based on the conclusions with the Fund, we will revise out outlook', said Sebastian Vladescu. Thus, an IMF mission will be I Bucharest in 20-23 July, and the budget review will be made after talks with the representatives of the Fund.The Ministry of Finance also the Government was considering a 1% economic contraction projection for this year.

Sursa: http://www.actmedia.eu

Tags: romania vladescu tranche board

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