Daily News - EU-IMF experts review crisis help for Romania: IMF (AFP) Daily Business News
AFP/File – Romanian protesters scuffle with police forces during a protest against austerity cuts in front of the … BUCHAREST (AFP) – EU and IMF experts are to visit Romania next week for a first review of crisis loan arrangements, the International Monetary Fund said on Friday.
A team from the European Union and IMF will study the situation here from April 27 to May 9, the IMF said.
In February, the EU and IMF decided to grant Romania a fresh credit line of five billion euros ($6.8 billion dollars) to be drawn only in case of emergency.
Romania was hit by one of the worst recessions in the European Union. The country was among the first to benefit from a lifeline of 20 billion euros from the IMF and the EU in April 2009.
This previous agreement had been a "success", as it had helped the country to stabilise its economy, Romanian president Traian Basescu said in February.
After the severe recession in 2009 and 2010, the Romanian economy is expected to grow by 1.5 percent in 2011.
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