News » March, 2011 » 28 March 2011
New 3.5bn-euro IMF arrangement has been approved
28.03.2011, 13:44 | Finance-Banks | 1006 views
The new two-year precautionary arrangement with Romania, which starts on March 31st, has received the green light from Washington on Friday, and is set to focus on stimulating the economy by means of structural reforms and by improving infrastructure. The biggest problem is that of arrears of state-owned companies, which are much higher than government arrears, according to Jeffrey Franks, chief of the IMF mission to Romania. He told Mediafax that Romania would come out of recession at the end of March, and that economic growth would pursue an upward trend from one quarter to the next. Read more on ZF.ro
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