An International Monetary Fund (IMF) delegation, headed by the chief of IMF mission to Romania, Jaewoo Lee (photo), will pay a visit to Bucharest during November 6-12.
“The IMF team will assess the recent economic and financial developments in Romania, will update the macro-economic outlook and will discuss the budget for 2019. The visit will also represent a step on preparing the consultation mission on Article IV to take place early next year,” IMF resident representative for Romania and Bulgaria, Alejandro Hajdnberg, said last week,
Currently, Romania has no ongoing funding agreement with the IMF, but the international financial institution assesses on yearly basis the development of Romanian economy, on the basis of consultations on Article IV, realitatea.net reports.
The consultations are an overseeing exercise for all member states. The aim of consultations on the basis of Article IV is the examination of the national financial and economic situation and the filing of general recommendations on the monetary, financial and economic policies to be followed in order to ensure stability and a positive development of the economy.