IMF, Central Bank officials discuss money policy

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The visiting International Monetary Fund (IMF) delegation discussed with the National Bank of Romania (BNR) officials on Friday about the money policy and the net foreign assets, sources close to the talks.

‘The meeting was a technical one and focused on the money policy and the net foreign assets. Also discussed were the projections regarding the foreign credit, deposits and liabilities’, the sources added.

According to them, the talks also focused on the Central Bank’s attitude towards the key interest rate, the minimum compulsory reserves and the liquidity.

A joint mission of the IMF, the European Commission and the World Bank began the 7th and 8th assessment of the stand-by accord with Romania on Tuesday. The foreign lenders and the Romanian authorities will examine the recent developments in the Romanian economy and the country’s 2013 budget during the visit to end on Jan. 29.

The IMF delegation discussed with the BNR officials during a meeting on Thursday about recent modifications to the law regarding the abuse in the new Civil Code, which says that if a clients’ association proves in court that a certain clause of a credit contract is abusive, all the contracts containing such provision can be denounced.

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