Prima pagină » English » Romanian Delegation Talks With IMF On Potential Agreement – Sources

Romanian Delegation Talks With IMF On Potential Agreement – Sources

A Romanian delegation including central bank deputy governor Cristian Popa and Finance Ministry secretary of state Bogdan Dragoi is currently in Washington to discuss with the International Monetary Fund a potential agreement, official sources told MEDIAFAX.
Romanian Delegation Talks With IMF On Potential Agreement - Sources
02 mart. 2009, 17:58, English

“There are prospecting talks. Of course, an agreement is in discussion, but one cannot expect a deal to be concluded now,” the sources said.
 
Romanian authorities consider taking a loan from the IMF or the European Commission to finance the external deficit and a decision is expected in the coming days.
 
Dragoi discussed last week with EC’s representatives at Brussels on an eventual loan for Romania.
 
Central bank’s spokesman Mugur Stet confirmed Popa is in Washington, saying the deputy governor was also in Brussels last week to talk on Romania’s financing needs.
 
"Moreover, both the Prime Minister and the [central bank’s] governor Mugur Isarescu said recently there will be discussions and analyzes with representatives of both the European Union and international financial institutions," Stet said.
 
However, Romanian Prime Minister Emil Boc said Monday the negotiations with the European Commission are the only official talks the Government is currently involved as regards its options of financing the budget deficit, answering journalists’ question if a Romanian delegation is now at the International Monetary Fund to discuss a loan.
 
On Thursday, Isarescu said the National Bank of Romania and the Government will end this week the evaluation regarding an external loan. He added the Romanian authorities are currently discussing with both the European Commission and the International Monetary Fund.
 
The main alternative in discussion is taking funds from the European Commission, under the International Monetary Fund surveillance, government soirces said last week.
 
Romania’s 2009 budget is based on a 2.5% economic growth and aims for a budget deficit of 2% of the GDP.
 
An IMF mission held a regular staff visit in Romania between January 27 and February 4. After the visit, IMF said Romania’s economy might shrink in 2009, as it is increasingly affected by the global recession.