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News Summary: IMF urges Romania on reforms

The Associated Press

LOOKING FORWARD: The International Monetary Fund is urging the Romanian government to implement deeper structural reforms and to apply for more European Union development funds to spur economic growth.

WATER UNDER THE BRIDGE: Economic growth nudged slightly above zero in 2012, a year of political instability in which the country had three prime ministers and Parliament sought to impeach the president.

BREATHING ROOM: Romania has taken out rescue loans from the IMF, and the two sides this week agreed to extend the $6.72 billion aid scheme by three months to June to give the government more time to meet its reform commitments.