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IMF: Romania Economy On Track, But Risks Increased ‘Considerably’

Romania has made “good progress” under a EUR3.6 billion loan agreement signed with the International Monetary Fund and is on track to meet its 2011 fiscal targets, but the escalation of the euro zone crisis is putting increasing pressure on the economic development, an official of the IMF said.

Florentina Dragu · 20 decembrie 2011 · 1 min de citit

“Romania has made good progress… and all program targets were met. Economic growth has resumed while inflation has fallen. However, risks have risen considerably due to the financial turbulence in the euro area,” said David Lipton, First Deputy Managing Director and Acting Chair of the IMF.

Lipton said continued commitment of the authorities in Bucharest to the economic agenda “is crucial” to withstand current uncertainties.

The IMF on Monday completed the third review of Romania’s economic performance under the EUR3.6 billion precautionary loan program, enabling the disbursement of a new EUR507 million tranche.

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