Bob Harris, EI's Senior Consultant to the General Secretary, shares information and commentary on the impact of the financial crisis on education funding, and how education can be part of the solution.
The IMF has announced a €13 billion (about US$17 billion) emergency lending agreement with Romania, which has been under negotiation for the past two months. The IMF's loan will be supplemented by €5 billion from the EU and smaller amounts from the World Bank and other sources.
According to the lending agreement, Romania will be required to reduce its fiscal deficit to under 3 per cent of GDP by 2011, from close to 5 per cent of GDP where it is currently. The IMF released a detailed press release about the loan yesterday:
http://www.imf.org/external/np/sec/pr/2009/pr09148.htm
13 billion euros IMF bailout for Romania
Labels: IMF, Romania, World Bank |
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Education International 2009
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