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Romania: IMF Team In Bucharest For Talks On Loan

  • Robert Lyle

Washington, 8 April 1997 (RFE/RL) -- A team of officials from the International Monetary Fund is in Bucharest today for a final round of discussions on the economic reform plan that will support a new IMF stand-by loan.

IMF resident representative in the Romanian capital, John Hill, says the team's visit is routine and is part of the process toward approval of the loan. The credit is tentatively scheduled to be taken up by the fund's Board of Executive Directors on April 23.

The IMF team, led by Poul Thomsen, is including in its talks a decision on the final amount of the loan. Romania had a $449 million stand-by loan just over a year ago, but it was suspended after Bucharest withdrew about $132 million because the reform program of the then-Romanian government had gone off track.