Romania seeks another two year long stand-by agreement with IMF

Written by on July 17, 2013 in Europe - No comments

Romania has successfully concluded its international loan agreements and seeks another two year long preventive arrangement, the Romanian President Traian Basescu said in a joint press conference with the visiting director of the International Monetary Fund (IMF), Christine Lagarde.

“We have managed to finalize the second agreement with IMF. Let’s be honest, there have been several problems, but it has come to an end with everyone’s good will. Now we have to start a new one” Basescu said.

He went on to explain the circumstances of a third agreement. “First, as a country that signed the Fiscal Treaty (of the EU), we have to meet the obligations stipulated in this treaty, from the IMF’s point of view. Secondly, Romania is on the right track as concerns the economic macro-stability, but this process is not consolidated yet and we have to work hard to maintain the macro-economic stability. If we look at the figures, we can easily see that by a few populist measures we can easily destabilize Romania. And there is a tendency in this regard now” he added.

 

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