While Romania is out of recession this is not the time for champagne and it should keep the pace of reform and avoid the mistakes of 2008, Romanian PM Emil Boc said at the beginning of talks with representatives of an IMF, European Commission and World Bank delegation to Romania.

IMF delegation head Jeffrey Franks said for his part he appreciated the efforts of the Romanian government.

A joint IMF, EC and World Bank delegation has come to Bucharest for a new evaluation of the precautionary stand-by accord.