Pakistan’s central bank left its benchmark interest rate unchanged after two straight increases, pausing even after the International Monetary Fund warned that reserves had fallen to a “critically low” level.
Romania will probably meet all the targets set for its International Monetary Fund review and the country’s economic data look “promising,” said Jeffrey Franks, the lender’s mission chief in the country.
Romania agreed to terms that may release 2.4 billion euros ($3.3 billion) of bailout loans from the European Union, International Monetary Fund and World Bank as it seeks to recover from the deepest recession on record.
Romania has reversed its image as an economic “mediocre student” after the government weathered no- confidence votes and protests to adhere to International Monetary Fund demands for spending and job cuts, said the IMF’s mission chief to the Balkan country.
Romania faces “major” challenges this year, including a possible economic contraction, as the government seeks to cut spending on wages and pensions, said Jeffrey Franks , head of the International Monetary Fund mission.
The International Monetary Fund is concerned the Romanian government, which cut wages and raised its sales tax last week amid protests, may be tempted to forgo further austerity measures as it tries to boost the economy, said Jeffrey Franks , the fund’s mission chief to Romania.
Romania may delay the sale of shares in a few state owned companies this year because the high number of approvals needed from authorities means it is taking longer than anticipated, Jeffrey Franks, the International Monetary Fund mission chief to the country said.