An International Monetary Fund (IMF) mission, led by Joong Shik Kang, will visit Bucharest from September 3 to 12, 2025, to analyze recent developments in the Romanian economy."The Fund team will analyze recent economic developments and policies. It will meet with officials from the Ministry of Finance, the National Bank of Romania, and other government agencies, as well as with representatives of the private sector and non-governmental organizations," the international financial institution announced.Consultations constitute a surveillance exercise that is mandatory for all Member States. The purpose of consultations under Article IV is to examine the financial and economic situation at national level and to formulate general recommendations regarding monetary, financial and economic policies to be followed in order to ensure stability and positive developments in the economy.Currently, Romania does not have an ongoing financing agreement with the International Monetary Fund, but the financial institution annually evaluates the evolution of the Romanian economy, based on Article IV consultations.This year, an IMF mission took place in Bucharest, also led by Joong Shik Kango, between February 3 and 7, 2025.The International Monetary Fund has worsened its estimates regarding the growth of the Romanian economy this year, from 3.3% as previously forecast, to 1.6%, according to the "World Economic Outlook" (WEO) report, published in April 2025 by the international financial institution.
The third edition of Taifas Balkan Film and Culture Festival, set to take place in Timișoara between October 13 and October 19, will include a retrospective dedicated to Romanian director Radu Jude. The public will be able to see the director's short films, in addition to a preview of his latest production, Dracula, presented at […]
Sursa International Light Art Festival, an event featuring immersive installations, projections, and light structures, will take place at the National Library of Romania from October 13 to October 19. The event brings together international and Romanian artists “in a visual dialogue about technology, architecture and sensitivity,” the organizers announced. “We wanted to build the opportunity […]
Romania’s Defense Ministry has signed a contract worth RON 50.4 million with Rheinnmetall Automecanica, a subsidiary of the German defense industry giant Rheinmetall, for the delivery of drone detection systems, Economedia.ro reported. The radar system will be delivered within 18 months at most and will reportedly be...
The former Steaua Roșie cinema in Cluj-Napoca will reopen as Edison-House of Music, a cultural hub dedicated to music and community, the organizers of the Jazz in the Park festival announced. Built in the early 1900s, the Edison building became, after World War II, the Steaua Roșie cinema. After 1989, the venue underwent several changes […]
Unprecedented amounts of precipitation have been recorded in Romania as cyclone Barbara hit the country on October 5-8, according to the authorities. At the same time, Bucharest exceeded the absolute maximum levels of rain for October. “Between October 5–8, 2025, Romania was affected by the Mediterranean cyclone Barbara, which formed over the Ionian Sea and […]
Romania is one of six European countries recently selected to develop a new artificial intelligence and supercomputing center under the EuroHPC – AI Factories program. The project, known as the AI Factory, will be Romania’s first national AI infrastructure, marking a major step toward strengthening its digital and research capabilities. The initiative will be led […]
