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October 25, 2021

President Iohannis meets IMF delegation

President Klaus Iohannis will welcome a delegation of the International Monetary Fund (IMF) at the Cotroceni Presidential Palace, today.
According to the Presidential Administration, the meeting of the head of state and the IMF delegation, headed by Andrea Schaechter, the Fund’s mission chief in Romania, is scheduled for 11:00hrs.
The Public Finance Ministry last Tuesday began discussions with IMF representatives on the 2016 national budget.
Last week, Finance Minister Eugen Teodorovici said they were also discussing the possibility of concluding a new arrangement. ‘In the current international context, such an agreement, a more flexible one, can represent a plus for Romania,’ the minister said.
Since 2009, Romania has concluded three consecutive loan arrangements with the International Monetary Fund and the European Union.
The last agreement to date with the IMF, which expired in September 2013, stood at 2 billion euros, however, the authorities of Bucharest haven’t accessed any funds. The aim of the precautionary agreement was that of protecting the Romanian economy from possible shocks form the financial markets. This was the tenth agreement Romania concluded with the International Monetary Fund over the past 23 years and the third requested of the IMF, since the outburst of the economic crisis in 2009.

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