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January 29, 2022

IMF representative: “Boc exaggerated”

Romania is not at risk of not being able to pay its debts, the country’s representative at the International Monetary Fund, Mihai Tanasescu, and former PM Theodor Stolojan say, according to Realitatea.net. In a show on the Money Channel, the two said Prime Minister Emil Boc exaggerated when he warned in Parliament that Romania would not receive the next instalment from the IMF and would not be able to pay its debts if the government fell. Both Tanasescu and Stolojan, who is a leading member of the ruling Democrat Liberal Party, said the decision to cut salaries and pensions is a very tough one, but it will have concrete effects on the budget. Moreover, the two warned that the austerity measures must necessarily be followed by other reforms. Tanasescu also voiced confidence that the IMF will agree at the end of the month to allocate the fifth instalment of the loan. However, Senate Speaker Mircea Geoana, a member of the opposition Social Democrat Party, cast doubt on the country’s chances to get the money in time. “We were told we have to get the IMF instalment now, at the June 20 board meeting. I can tell you, based on my entire experience in the field, that it’s impossible to receive that instalment in time. I expect the Fund and the European Commission (…) to wait until September, probably, to see if these measures can have effects on real economy,” Geoana said during a show on Antena 3 on Tuesday evening.

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