BUCHAREST — Romanian officials said Friday that the International Monetary Fund will delay access to a €1.5 billion ($2.2 billion) bailout loan while the country struggles to set up a new government.Central bank governor Mugur Isarescu said the loan would be postponed due to the political uncertainty in the wake of the government's collapse on Oct. 13. IMF officials are due to make an announcement later Friday at the end of a visit which began Oct. 28 to evaluate the economic and political situation.Parliament dismissed the government of Emil Boc last month and lawmakers have this week rejected a government led by finance adviser Lucian Croitoru, nominated by President Traian Basescu.Basescu on Friday nominated yet another prime minister — Bucharest district mayor Liviu Negoita — and said the IMF will return to Romania only after a legitimate government is in place.He said the IMF wants a budget for 2010 by Dec. 10, when the fund's board meets to review the loan, part of a larger IMF loan of $17.1 billion. Romanian officials say the next installment depends on reaching a budget deficit of no more than 5.9 percent of the GDP.Negoita said he will form a team in three days to present to parliament and that he wants a government with broad political support. He belongs to the Democratic Liberal Party, which Basescu used to lead.
BUCHAREST — Romanian officials said Friday that the International Monetary Fund will delay access to a €1.5 billion ($2.2 billion) bailout loan while the country struggles to set up a new government.
Central bank governor Mugur Isarescu said the loan would be postponed due to the political uncertainty in the wake of the government's collapse on Oct. 13. IMF officials are due to make an announcement later Friday at the end of a visit which began Oct. 28 to evaluate the economic and political situation.
Parliament dismissed the government of Emil Boc last month and lawmakers have this week rejected a government led by finance adviser Lucian Croitoru, nominated by President Traian Basescu.
Basescu on Friday nominated yet another prime minister — Bucharest district mayor Liviu Negoita — and said the IMF will return to Romania only after a legitimate government is in place.
He said the IMF wants a budget for 2010 by Dec. 10, when the fund's board meets to review the loan, part of a larger IMF loan of $17.1 billion. Romanian officials say the next installment depends on reaching a budget deficit of no more than 5.9 percent of the GDP.
Negoita said he will form a team in three days to present to parliament and that he wants a government with broad political support. He belongs to the Democratic Liberal Party, which Basescu used to lead.