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IMF, EU To Unfreeze Romania's 20 Bln Euro Bailout Loan

IMF, EU To Unfreeze Romania's 20 Bln Euro Bailout Loan

BUCHAREST (Romania), January 27 (SeeNews) – The International Monetary Fund (IMF) and the European Commission will unfreeze the next tranches of a 20 billion euro ($28.1 billion) bailout loan for Romania, local news agency Mediafax reported on Wednesday.

The IMF mission will recommend releasing the next two tranches of the loan, worth some 2.3 billion euro, Mediafax (www.mediafax.ro) quoted the head of the IMF mission to Romania, Jeffrey Franks, as saying at a news conference.

“We are optimistic that in February the IMF board will appreciate the efforts made by Romania,” Franks said.

The European Commission representative Fabienne Ilzkovitz also said the review of the deal with Romania is positive and the Commission will release a 1.0 billion euro tranche in March, Mediafax reported.[...]