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Romania Should Consider A New Agreement With The IMF – President

Romanian President Traian Basescu said Monday, during his meeting with IMF delegation chief Jeffrey Franks, that Romania should consider the adequacy of a new agreement with the IMF in October.
Romania Should Consider A New Agreement With The IMF – President
Oana Gavrila
06 sept. 2010, 11:35, English

„In October we should look at the future agreement between the IMF and Romania, to see whether the right solution would be to extend the current agreement or to conclude a «precautionary» one,” Basescu said at the start of the meeting with Jeffrey Franks.

The IMF delegation chief said he agrees with Basescu, adding Romania needs a great deal of European funds to improve its infrastructure and remove public sector barriers that block the absorption of budget funds.

„We also need to look at the social costs, we have a EUR3.6 million deficit, which is dramatic,” said Basescu.

Sunday, Franks met with Romania’s new finance minister, Gheorghe Ialomitianu. After the meeting, the IMF official said Romania should maintain its main taxes at the current levels in 2011 as well.