The IMF extended a review of Romanias loan accord until the end of June, after Prime Minister Victor Ponta asked the lender to prolong the agreement to complete more reforms. Vrijer Erik, the head of the IMF mission, stated in the press conference held yesterday that the IMF estimates that Romania had zero growth in 2012, after an advance of 2.2% of GDP in 2011, while for the current year is expected to increase relatively modest, around 1.5%. Recall that the government estimates a growth of 0.2% for 2012 and that the budget for this year is based on a higher GDP by 1.6% in real terms compared to last year. (Source: Mediafax.ro)

Source: bne