World Bank and IMF News

It’s a banner day for world financial institutions and Romania.

First, Romania agrees to be dominated by the WB until 2023 at least:

The Bank’s partnership with the Government of Romania spans more than 40 years, during most of which Romania was in a traditional borrowing role, but in the last five years advisory services and support to overcome the crisis have provided the centerpiece of the program. This has helped develop a new and more effective model for the World Bank to operate in its more advanced member countries in Europe and other regions globally.

In other news, Romania is getting a new IMF supervisor:

Ms. Schaecheter term ended after two and a half years, in accordance with IMF′s rotation policy. Mr. Reza, a Pakistani, will pay a visit to Bucharest on January 12-15.

I’m sure abundant prosperity is right around the corner :)

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