A mission of the International Monetary Fund (IMF), led by Jeffrey Franks, will be present in Bucharest, between January 25 and February 8, 2011, for the seventh evaluation of the stand-by agreement. The mission will overlap with visits by representatives of the European Commission and of the World Bank. Jeffrey Franks already had, yesterday, a series of preliminary meetings in Bucharest. The international financiers’ mission will have two main objects, namely, the seventh evaluation of Romania’s progress in meeting targets set in the stand-by agreement and “to initiate negotiations on a potential future arrangement. Besides talks with the authorities, the members of the IMF mission will meet also representatives of the political parties, trade unions, business associations, banks and the civil society. IMF may waive the Vienna agreement once concluded a new preventive agreement, since the parent banks maintain their voluntary exposure to Romania, official sources said for Mediafax. More specifically the IMF, EC and BNR agreed in July last year that the Romanian market exposures can vary within a margin of plus or minus 5 pc from the level recorded in March 2009, banks reduced their exposures, and some have even increased it.
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