Romania's PM designate to meet with IMF

Associated Press Published: April 30, 2012

BUCHAREST, Romania (AP) — Romania's newly named prime minister-designate says he will meet with representatives of the International Monetary Fund, a day before he names his Cabinet.

Victor Ponta, who leads the Social Democratic Party, said he hoped to show Romania's international creditors in Monday's meeting that there would be "continuity" in economic policy.

The previous center-right government of Mihai Razvan Ungureanu lost a parliamentary vote of no confidence on Friday that reflected the unpopularity of austerity measures.

Ponta, 39, will name his government on Tuesday, a mixture of politicians and technocrats which will need to be approved by Parliament.

Romania took a €20 billion ($26 billion) bailout loan from the IMF, the European Union and the World Bank in 2009 when its economy shrank 7 percent.

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