IMF Head Meets Romanian Officials In Bucharest

Dominique Strauss-Kahn, Managing Director of the International Monetary Fund, started his one-day visit to Bucharest with a meeting, at the government headquarters, with the Romanian Prime Minister Emil Boc, the central bank governor Mugur Isarescu and some of the ministers.

Strauss-Kahn told the officials that he knows Romania was affected by the economic crisis and there are pressures on the budget. He added the IMF is continuously looking, alongside Romanian authorities, for solutions to keep the macroeconomic balance.

„We are here to try to help you go back on track, help you to implement the policies you choose and, even if sometime the IMF team may seem a bit tough… all what I hear is that the relationship with the authorities… has been of the highest possible quality,” Strauss-Kahn said.

„Of course, we do understand that the crisis has hit your economy and your people and that you have … these days some pressures on the budget. So we are clearly able to understand that and to try to see with you how we can stay on track while taking into account the needs that you put forward.”

In his turn, Boc said the agreement with the IMF was sealed to limit the negative effects of the economic crisis and to ensure making of some structural reforms.

The IMF Managing Director will also meet the Romanian president Traian Basescu, the speakers of the two parliament chambers and he will address the parliament and the Academy of Economic Studies in Bucharest.

Strauss-Kahn is joined by Marek Belka, Director of IMF’s European Department.

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 EU.