Romania: Romania: Jeffrey Franks: Two disbursements will come in February

January 27, 2010

Romania: Jeffrey Franks: Two disbursements will come in February
Jan 27, 2010

Romania: Jeffrey Franks: Two disbursements will come in February.
Bucharest, Jan 27 /Agerpres/ - The International Monetary Fund (IMF) will make available this February both the third and the fourth disbursements of the IMF-supported program for Romania, IMF Mission Chief for Romania Jeffrey Franks told a news conference on Wednesday that disseminated the conclusions of a review mission conducted January 20-27 in Romania.

Franks said the IMF will make available the two disbursements and allow that half of the money be paid into the social security accounts and the other half into the accounts of the National Bank of Romania (BNR) to cover the budget deficits.

The visiting IMF officials are expected to draw up a review report, based on which the IMF board will approve the two disbursements worth a total of 2.3 billion euros.

Romania might also receive 1 billion euro from the European Commission and a further 300 million euros from the World Bank, depending on the approval of the World Banks' Board of Directors. AGERPRES
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