IMF delegation to arrive in Bucharest on Jan. 15

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An International Monetary Fund delegation headed by chief negotiator for Romania Erik de Vrijer will arrive in Bucharest on Jan. 15 for the 7th and 8th assessment of the Stand By Agreement closed with Romania, the IMF resident representative for Romania and Bulgaria, Tonny Lybek announced in a release on Thursday.

Analysed during the visit to go till Jan. 29 will be the recent developments in the Romanian economy and the 2013 state budget.

The IMF delegation postponed the 7th assessment of the accord that had been scheduled for the autumn of 2012, as Romania was to hold parliamentary elections in December and form a new Government.

The current accord signed by Bucharest with the IMF totals 3.6 billion euros, accounting for roughly 300 percent of the Romanian IMF share. At the end of Sept., when the 6th revision of the precautionary agreement wrapped up, the IMF Board of Directors made available a new tranche worth 430 million SDR (Special Drawing Rights) or the equivalent of 519.2 million euros (663.1 million dollars).

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