Romania might request more IMF money

November 2012 - From the Print Edition

President Traian Basescu, Prime Minister Victor Ponta and BNR Governor Mugur Isarescu are pondering approaching the IMF for a new loan in the next two years. The talks happened days before the scheduled IMF visit to Romania, with head of mission Erik de Vrijer, hinting to a modest economic growth for Romania in the year to come. "We think that the economic growth will be moderate in 2013, even if the agriculture situation will get back to normal," said de Vrijer. "There are difficulties in the mobilisation of the European funds to finance the investments, which are the key to growth, but there are also the delays in the structural reforms which will call a halt to growth in the next year." President Basescu said: "I think this is the right moment to analyse the agreement in-place and look at a future agreement, I already talked to the PM and to the BNR governor and we have decided to sign a new IMF agreement for another year or two." In turn, Tonny Lybek, IMF Resident Representative in Romania and Bulgaria, said that the IFM visit, taking place between November 4 and November 14, is aimed at discussing with the Romanian authorities the recent economic evolution, the tax and monetary policy and the evolution reported in the structural reforms.