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Romanian Social Democrats Ask Ruling Partners To Explain Use Of IMF Loan

Romania’s Social Democratic Party asked the finance minister and the Democrat Liberal Party to explain how the first EUR5 billion of the IMF loan and the tranches from the EU and the European banks have been used, what their results are and what it plans for the next EUR2 billion tranche.
Romanian Social Democrats Ask Ruling Partners To Explain Use Of IMF Loan
26 iul. 2009, 15:32, English

Party spokesperson Bogdan Niculescu Duvaz told a press conference on Sunday that the International Monetary Fund will finish on Tuesday the evaluations for the release of the second part of the loan worth EUR2 billion, which calls for talks on this issue in the coalition’s meeting on Monday.

Duvaz said the systematic loans the state has resorted to deepened the economic blockage and the negative effects of the economic crisis worsened.

Duvaz said the Finance Ministry should explain how the first tranche of EUR5 billion from the IMF loan was used, adding that if Romania continues to spend money as it has in the first half of the year, more than half of the total loan will be spent by the end of 2009.

Although a technical committee had been established under the leadership of social democrat Constantin Nita and democrat liberal Adriean Videanu, its members have never met as the Democrat-Liberal Party never had the time for that, Duvaz said.

He added the party wants answers from the democrat liberals regarding the anti-crisis program it proposed three weeks ago, as the crisis deepens.

Duvaz said the deficiencies of the first six months of joint ruling have to be solved.