Romanian IMF official: The International Monetary Fund may analyze Romania's loan request in May

Joi, 19 martie 2009, 23:04 English | Regional Europe

Romania' representative to the International Monetary Fund, Mihai Tanasescu, that Romania will not receive the IMF loan immediately, since the approval process requires first the analysis of Romania's intention letter. Such an analysis, Tanasescu says, may come at the beginning of May.

"It 's a process that takes a bit longer. After the letter is accepted by the authorities, the IMF board and commissioner Almunia will receive it, then it's a 4-6 weeks period to obtain the necessary approvals. It could be discussed at the beginning of May", said Tanasescu.

The World Bank funds will be directed exclusively towards covering the budget deficit. WB will more than certainly impose several structural reform conditions, one of them referring to the fiscal administration reform.