WB Unlikely To Revise Romania 2011 GDP Forecast After Review Mission

The conclusion of the World Bank’s review mission on Romanian economic and fiscal progress under a EUR20 billion international bailout will not prompt a revision of the country’s growth forecast for 2011, an official of the World Bank said Thursday.

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Speaking in a press conference in Bucharest, World Bank's senior economist Sudharshan Canagarajah said the institution will not change its estimation regarding a 1.5% economic growth this year.

In 2009, Romania and the IMF signed a EUR13 billion two-year standby loan agreement, part of a larger EUR20 billion package that includes funds from the EU, the World Bank and other foreign lenders.

Joint teams from the IMF, the World Bank and the EU will be in Bucharest until February 8 for the seventh and final review of the two-year agreement and for discussions on a possible follow-up deal.

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