IMF Review Mission In Bucharest Extends Stay

The International Monetary Fund has decided to prolong a review of Romania’s rescue deal by extending the visit of its mission to Bucharest by two days to May 9.

“The fourth IMF review mission … will continue working with the Romanian authorities during the weekend May 8-9,” Tonny Lybek, IMF’s representative in Romania and Bulgaria, said on Thursday.

A joint mission of the International Monetary Fund and the European Commission arrived in Bucharest April 27 for the fourth review of Romania’s progress under a €20 billion bailout package signed last spring.

The IMF recently cut its forecast for economic growth in Romania to 0.8 per cent for this year, as the emerging economy still reels from a painful 7.1 per cent contraction in 2009.

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