Boc Assures IMF Delegation Romania Can Emerge From Recession

04.27.2011 By Gavrila Oana

Romanian Prime Minister Emil Boc met Wednesday morning with officials of the International Monetary Fund, European Commission and the World Bank, whom he assured Romania can emerge from recession.

Romanian Prime Minister Emil Boc met Wednesday morning with officials of the International Monetary Fund, European Commission and the World Bank, whom he assured Romania can emerge from recession.

Talks between Boc and the IMF, EC and WB experts lasted less than half an hour, people close to the matter told MEDIAFAX.

Joint teams from the International Monetary Fund, the European Commission and the World Bank are visiting Romania between April 27 and May 9 for the first review of a EUR5.3 billion precautionary agreement signed at the end of March.

Romania and its international partners signed a two-year precautionary agreement, successor to a EUR20 billion bailout package received during May 2009- March 2011.

Under the follow-up deal, the IMF will disburse Romania EUR3.5 billion, while the EU and the World Bank contribute with EUR1.4 billion and EUR400 million, respectively.