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January 27, 2023

Victor Ponta does not want Romania treated by the IMF like “the teacher’s pet”

Prime Minister Victor Ponta stated on Romania TV that a possible new agreement with the International Monetary Fund (IMF) will have to take into account Romania’s development needs.

Victor Ponta did not rule out a new agreement with the IMF, however the agreement should be based on a vision other than that of previous agreements. “I am not ruling it out, but I badly want us to no longer be treated like the teacher’s pet that does everything the teacher says then is even scolded because he sits in the front of the class,” the Premier said.

He stated that an essential goal for Romania is lowering the disparity between her and Western European states, a goal that entails larger expenditures in certain domains, the Premier giving infrastructure as an example. “There are some things that have to do with Romania’s specificity and her development goals,” Victor Ponta stated.

He pointed out that the Fund opposed some measures adopted by his government, which eventually turned out to be successful, such as lowering the VAT on bread. “They are more pessimistic, they got used to the Boc Government,” Ponta concluded.

Romania could negotiate a new kind of agreement with the IMF after the one currently in force expires, Premier Victor Ponta stated on 17 December 2014.

The new agreement could mean a flexible credit line such as the one the IMF created in 2009 for countries with good economic results. This credit line entails fewer conditions compared to the current agreement.

“If we manage to successfully finish the assistance agreement, and I believe we will, there will no longer be a need for a new precautionary agreement. (…) Maybe we can discuss a different arrangement. I believe there are different kinds of IMF agreements, like in Poland’s case for example,” Ponta said.


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