The fifth IMF instalment goes today to the National Central Bank

The fifth instalment from Romania’s stand-by agreement with the International Monetary Fund (worth of 913) will be send today, July 7, to the Romanian Central Bank’s reserve. BNR representatives this will make foreign investors trust more the Romanian economy.

Talking to Romanian news agency Agerpres, BNR governor adviser Adrian Vasilescu indicated that „the fact that half of the last three instalments ended up at the Treasury represented an exception in IMF’s 50 year of activity”, an exception which end with the fifth instalment.

On the other hand, an IMF mission will arrive in Romania on July 26, where it will stay for one week to evaluate whether Romania fulfilled the conditions assumed in the stand-by agreement and to discuss the economic targets for the next year with the authorities, IMF representative for Romania and Bulgaria Tonny Lybek declared.

The IMF mission is also going to meet up with representatives of the political parties, unions, patronages and banks, as well as civil societies.

The IMF team will go through the stage of the recommendations submitted last year by another team and will advise the Romanian National Agency for Fiscal Management (ANAF) on better ways to use the instruments made available by the information technology.

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