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March 23, 2023

Basescu: The social problems have not been generated by the IMF

President Traian Basescu told Menno Snel, Executive Director of the International Monetary Fund (IMF), at Cotroceni yesterday, it was not the international financial institution that generated the social problems, but the Romanian politicians should be held accountable instead, Mediafax reported. The head of state also outlined that the Fund has never dictated any terms, but even proposed other solutions sometimes. “We assume the policies. I have never said that the IMF is part of them, since the IMF has been our partner and it has not dictated terms. I must acknowledge that the IMF has sometimes proposed different solutions. We can’t say the social problems have been created by the IMF, we are accountable for them,” Basescu said.

In his turn, IMF Executive Director Menno Snel told the Romanian head of state that what the IMF is trying to do is give money, yet, the decisions belong to the other party. National Bank of Romania Governor Mugur Isarescu and Mihai Tanasescu, Romania’s representative to the IMF, also attended the meeting.

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