Romania Needs “Preventive” Foreign Financing - Ctrl Bker

Romanian central bank governor Mugur Isarescu told the members of the Government Friday the country needs a “preventive-like” foreign financing to ensure the economic stability and protect the population’s economic interests, the Government said.

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Isarescu attended Friday the first meeting of the inter-ministerial committee to ensure Romania’s foreign and internal financing.

"The talks equally approached the issue of resuming the lending, through correlating the Government fiscal policies with the Central Bank’s money policies," the statement read.

Also, the authorities will continue the talks with the European Commission, World Bank, European Bank for Reconstruction and Development and International Monetary Fund on ensuring Romania’s foreign financing.

Romanian government set up Wednesday a committee formed of nine ministers in charge with the country’s local and foreign financing.

The committee was established after finance minister Gheorghe Pogea informed the government on the necessity to finance the budget deficit.

The committee will include the minister of finance, economy, development, transports, labor, SMEs, health, education, and foreign affairs.

Also, Romanian President Traian Basescu said Thursday that the assessment regarding the amounts Romania would borrow from the International Monetary Fund and the European Commission would be finalized next week, “on Tuesday or Wednesday.”

He added the evaluation would also show if the arrangement should be concluded for one year or two years.

Basescu said the assessment would sum up the mutual opinions of the Romanian authorities and of the foreign delegation, which includes representatives of the IMF, the European Commission, the World Bank, and the European Bank for Reconstruction and Development.

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