Romanian President Says Romania Wants Long-Term Collaboration With IMF

„We would like a long-term cooperation with the IMF. When we finish this agreement, we’ll probably request an assistance stand-by agreement or a flexible credit line,” Basescu told Dominique Strauss-Kahn in a meeting at the president’s office, adding the IMF lends Romania credibility.

Basescu said Romania needs the IMF and the World Bank’s long-term assistance to complete its structural reforms, be it public administration, education, healthcare or social security system.

Dominique Strauss-Kahn, Managing Director of the International Monetary Fund is on a one-day visit to Bucharest, part of a wider European tour, and his schedule includes meetings with the prime minister, president, minister, central bank governor and the heads of the country’s two chambers of Parliament.

Last year, Romania secured EUR13 billion in aid from the IMF, as part of a larger package that includes funds from the EU, the World Bank and other foreign lenders.

So far, Romania received around EUR9.3 billion from the IMF and EUR2.5 billion from the European Union.