ING: Government in December, money from IMF in March

If the new government is vested until the end of the year, and the discussions with the representatives of the financial institution begin in January, the money will come to Romania in March, according to an ING Bank analysis. “We further expect the IMF money to come in March, after the beginning of the negotiations in January, if the new Cabinet is vested until the end of the year,” the representatives of the bank say. The interim finance minister, Gheorghe Pogea, also considers that Romania still has chances to receive the third installment from IMF in January, but says that the 2010 budget has to be submitted to Parliament by the new Government. He pointed out, after the meeting with the representatives of the Fund of yesterday, that he prepares the financing strategy for the first quarter of 2010 and considers also the installments from the IMF. The MFP official also explained that the Romanians authorities and the IMF experts must agree over the projection of the budgetary revenues and expenditures in 2010, in order that Romania may observe the budgetary deficit target of 5.9 percent of GDP.

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