Romanian Former PM Believes Romania Does Not Need IMF Deal

“Turning to the IMF is not, in my opinion, a solution for a European country. I also consider that a debate on an agreement with the IMF is unnecessary because the Government should be the first to officially announce its intentions. (…) A deal with the IMF cannot be approved simply as a matter of principle. We cannot issue a preliminary agreement so that the Government could have carte blanche,” Tariceanu said.

 

He repeated that, in his opinion, the financing Romania requires can be supported jointly from the budget, through European funds and loans from the Central European Bank, the European Bank for Reconstruction & Development and the European Investment Bank.

 

The liberal leader added that a deal with the IMF is mandatory only “when the Government throws up its hands and says «We are incapable of handling the situation and we need foreign assistance».”

 

He concluded that “Romania is able to continue its good evolution by attracting investments if it decides to adopt measures such as: reducing consumption expenses, increasing investment expenses, adding job creation incentives.”

 

Romanian President Traian Basescu said he will address a parliament meeting on Monday afternoon regarding a potential foreign loan to aid Romania during the economic crisis.