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IMF board holds the first meeting of the evaluation of the new agreement with Romania 

de A.C.
Luni, 27 iunie 2011, 11:40 English | Top News

IMF board will hold on Monday the first evaluation meeting of the new stand by agreement with Romania according to the program released by the institution, news agency Agerpres reads. 

The stand by agreement with the IMF will last 24 months, and is paralleled by a new precautionary agreement with the EU worth 1.4 billion euro and a 0.4 billion euro loan from the World Bank. The IMF money can also be withdrawn in exceptional situations like an attack against the national currency launched by a crisis in the region.  

Early in May, IMF chief of mission for Romania Jeffrey Franks said that he will recommend the IMF board to offer Romania the first installment of the total loan, worth 475 million euro.

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