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 :)