An International Monetary Fund (IMF) delegation will visit Bucharest from February 3 to 7, Geoff Gottlieb, IMF Regional Representative for Central, Eastern and Southeastern Europe, recently announced.

„The IMF team will meet with representatives of the new Romanian Government and the National Bank of Romania to analyze recent financial and economic developments and update the macroeconomic outlook. The mission will be led by Joong Shik Kang, who replaced Jan Kees Martijn as head of the IMF mission in Romania. Martijn has obtained a new position, in line with the IMF’s internal policies,” reads a press release sent to AGERPRES on January 16, 2025.

Joong Shik Kang, of South Korean nationality, is currently the head of the IMF mission in Romania and Greece. Previously, he was the head of the IMF mission in Hong Kong and deputy head of the IMF mission in China. Previously, he was Assistant Director of the Asia and Pacific Department and Chief of Mission of the IMF in the Marshall Islands. He studied economics at the University of Seoul and holds a PhD in economics from the University of Wisconsin-Madison.

Romania currently does not have a financing arrangement with the International Monetary Fund, but the financial institution annually assesses the development of the Romanian economy, based on Article IV consultations.

The consultations constitute a surveillance exercise that is mandatory for all member states. The purpose of Article IV consultations is to examine the financial and economic situation at the national level and to formulate general recommendations regarding monetary, financial and economic policies to be followed to ensure stability and a positive evolution of the economy.

AGERPRES