FinMin Ionut Misa to attend Annual Meeting of World Bank and International Monetary Fund

Minister of Public Finance, Ionut Misa, is set to attend the Annual Meeting of the World Bank Group and the International Monetary Fund, to be held in Washington, October 11-16, an event that has taken place every spring and autumn, ever since 1972, says a release of the Ministry of Public Finance(MFP).

“The Minister of Finance will have a series of meetings to discuss the fiscal-budgetary strategy for 2017-2019, build of such a manner so that Romania will be able to maintain its budget deficit below 3 percent in 2017 and 2018, and also the role of the Ministry of Public Finance in maintaining the macroeconomic balance”, reads MFP.

The Minister’s agenda in Washington includes both his attendance of the Annual Meeting of the World Bank Group and the International Monetary Fund and meetings with representatives of the Dutch Constituency (which Romania is also part of), and with representatives of the European Bank for Reconstruction and Development (EBRD), Alain Pilloux (Vice President) and Philip Bennett (First Vice President).

Ionut Misa will be accompanied to Washington by secretaries of state responsible for the relation with the World Bank and the International Monetary Fund.

 

PM Tudose says Gov’t won’t seek one dime in IMF loan

 

Premier Mihai Tudose, speaking Monday evening at a show of public broadcaster Antena 3, said that the government has no intention to take out an IMF loan; Tudose thus answered a question as to whether the government is considering this option.

“Honestly, in no case, and I let them know this too, because having in view the forecasts they made and the way they treated us, excuse me but we should be in a desperately dire situation, when the money we potentially took out from the Fund would be to no avail. I won’t take out one dime in loan from the IMF,” Mihai Tudose insisted, adding that Finance Minister Ionut Misa is on a trip to the US for talks with international financial institutions, but not with the IMF.

The PM added that the government will have recourse to other financial instruments if needed, such as “eurobonds or government bonds”.

Asked if he considers the IMF to be responsible for the situation prompted by the 2010 wage cuts, Tudose replied: “Well, they nonchalantly publicly said ‘we were a bit wrong’.”

“They disrupted a country’s and people’s life in a disastrous way. Now they were off point with one forecast, they went wrong with the second, I did my duty to let them know that if they screw up the third forecast too we might never again talk to them, not even out of courtesy, when they undergo a line-up change. They became a little more cautious. I am not talking about the International Monetary Fund as an organisation, but the people they send here, on selection criteria that escape my knowledge, are rather off the path. (…) My discussion with them was just like that: you make one more blunder and I will react violently because I will understand this is an attack on the country, on the country rating,” Tudose said.

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