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Fondul Proprietatea welcomes the arrangement regarding a new standby agreement with IMF

5 Aug 2013

Franklin Templeton Investment Management Limited UK Bucharest Branch, as Sole Manager and Fund Manager of SC Property Fund S.A. (The "Fund") welcomes the agreement between the Romanian authorities on the one hand, and the International Monetary Fund, European Commission and World Bank, on the other hand, on the conduct of an economic program to be supported by a new stand-by agreement

The Fund believes that previous agreements had a significant impact on the macroeconomic stability achieved by Romania and contributed to placing the country on a clear growth trajectory. By continuing this Agreement Romanian Government demonstrates commitment to further reforms still needed to strengthen the economy.