IMF: Romanian Government Collapse Won't Interrupt Aid Program
By Meena Thiruvengadam, Of DOW JONES NEWSWIRES
WASHINGTON -(Dow Jones)- The International Monetary Fund on Thursday said it
does not expect the collapse of Romania's government to deter a $17.1 billion
aid package it has promised to the struggling eastern European nation.
"IMF programs support sound economic policies of partner countries, not a
particular government or political party," IMF Romanian mission chief Jeffrey
Franks said.
The Fund has extended a two-year loan offer to Romania and already has
disbursed nearly $10 billion in aid to the country.
Romania, however, has fallen into a political crisis after a no-confidence
vote in its parliament earlier this week led to a collapse of its centrist
minority government. The uncertainty in its political situation comes as the
country also is battling a deep recession.
Romania has tapped its former IMF representative Lucian Croitoru to serve as
its prime minister, a position that would allow him to run an interim government
until the country holds a presidential election later this year.
The IMF plans to meet with Romanian officials to discuss the disbursement of
additional loan dollars as soon as the country forms a new cabinet.
-By Meena Thiruvengadam, Dow Jones Newswires; 202-862-6629;
meena.thiruvengadam@dowjones.com
(END) Dow Jones Newswires
10-15-091038ET
Copyright (c) 2009 Dow Jones & Company, Inc.
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