IMF Says Romania Not Asked For A Program

IMF said a delegation will visit Bucharest between January 27 and February 4 to hold “a regular staff visit.”

These staff visits, held in between annual consultations, are used to assess the overall macroeconomic situation and prospects. “It will also provide the opportunity to exchange views about policies with the new government,” IMF press release said.

But IMF pointed out that the government has not requested an IMF program, and therefore there are no discussions about it on the mission’s agenda.

“Moreover, we are not exerting any pressure on the government to request an IMF program. All decisions on whether to request a program remain appropriately with the government,” according to the press release.

Many economic analysts said in recent weeks that Romania might need an agreement with the IMF, as it would restore confidence in the country’s economy, even if the funds would not be used.

However, Romanian President Traian Basescu said recently that “the last thing Romania would do” is taking a loan from IMF.

IMF’s representatives most recent visited in Bucharest last year, between 3 and 14 of November, together with World Bank’s representatives, in order to assess Romania’s financial system.

The last stand-by agreement between Romania and IMF was formally closed on July 7, 2006.