On Friday, the International Monetary Fund declared to give 3.3 billion Dollars to Romania, to help the EU member emerge out of economic crisis.

Romania had been badly hit by recession. So, last May, the IMF, the World Bank and the European Union offered a rescue package of 20 billion Euros (27.2 billion dollars) to the recession-hit Romania.

It has received the latest installment of 12.6 billion Dollars under a 2-year loan from IMF.

After examining Romania's economic performance, the IMF Executive Board agreed to an "immediate disbursement" of 3.32 billion Dollars.

IMF'S Deputy Managing Director, John Lipsky, said that the Balkan country faces major fiscal challenges along with "a difficult political and economic environment".

"Additional reforms to strengthen fiscal controls are crucial, including in expenditure commitments, contingent liabilities, and public entities outside the central government", he added.

The IMF forecasts that the Romanian economy will grow 1.3% in 2010, after a decline of more than 7% last year.