IMF To First Review Romania's Program On Sep 15

The first review of the performance criteria set under the program agreed by Romania with the International Monetary Fund will be set for September 15, based on end-June targets, according to IMF.

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Tonny Lybek, IMF’s representative for Romania and Bulgaria, has recently said the institution's next mission to Romania will arrive mid-August.

The quarterly performance criteria for 2010 will be set during the second review, December 15.

The teargets for the whole 2009 will be analyzed March 15, 2010.

Romania and the IMF signed in May a EUR12.95 billion two-year stand-by arrangement, as part of a EUR19.95 billion financial support package that also includes funds from the European Commission, the World Bank, and the European Bank for Reconstruction and Development.

The agreement sets performance criteria on budget deficit, the inflation rate, and other macroeconomic indicators, but also includes deadlines for adopting specific regulations.

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