IMF Board postpones first evaluation of the new accord with Romania until Monday

The IMF Board postponed for Monday, June 27 the meeting in which it will make the first evaluation of the new stand-by accord with Romania, initially scheduled for Friday, in which it will analyse the progress of the reforms initiated by Romanian authorities, Mediafax informs. According to the IMF calendar, the Board will also analyse Romania’s request to modify a number of performance criteria. A joint mission of the IMF, World Bank and European Commission was in Bucharest during April 27 – May 9, for the first evaluation of the new financing arrangement. In its letter of intent to the International Monetary Fund, the government promised to adopt a number of measures before the Board meeting: issuing the ordinance on restructuring ANAF, drawing a list of all arrears accumulated by state companies, and devising a new calculation formula for the price of natural gas, in line with international evolutions. The new accord – a precautionary arrangement – signed at the end of March, for a two-year period, is worth SDR 3.09 bln (some EUR 3.5 bln), accounting for 300 pc of Romania’s quota in the IMF. (A.C.)

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