Romania Caretaker PM Changes Tune, Says IMF Deal May Need Renegotiating

„If the Parliament does its job, we are on schedule for this year. It not, it (the deal) will need renegotiating,” Boc said.

Earlier Tuesday, Boc said Romania does not need to renegotiate its deal with the IMF, because it has not missed any of the loan terms by October 1.

Later, he added that Romania pledged to the international partners to adopt, no later than December 31, some important regulations, such as the pension law, the fiscal responsibility law and the 2010 budget law, which all need parliament endorsement.

Boc said the government honored its commitments.

Romania and the IMF signed in spring a two-year standby arrangement for EUR12.95 billion, as part of a wider EUR19.95 billion aid package the country took from the EU, the World Bank and other foreign lenders to cope with the recession.

Last week, the IMF said that a mission will be in Romania October 28 through November 9 to review the country’s economic progress, reconsidering earlier plans to delay the mission until a new government is formed.

Romania has already received around EUR7 billion from the IMF and it relies on a third EUR1.5 billion disbursement scheduled for December to pay wages and pensions.