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October 31, 2020

Romania no longer wants agreement with IMF

In an interview for Agerpres, Ioana Petrescu, former finance minister and Premier Victor Ponta’s current fiscal and business advisor, reopened the issue of the current stand-by agreement with the IMF (which expires in September 2015) and of a possible new agreement.

Ioana Petrescu pointed out: “We have a very good image on the external market, we borrow at very low costs, our fiscal budgetary situation is very good, the economic situation is very good. I believe this agreement with the IMF (2013-2015 – editor’s note) had to be finalized, but personally I don’t believe we need another agreement with the IMF. I believe we are already economically stable, we are mature, we have taken the commitment of joining the Euro Zone in 2019, so we should stand on our own feet and should manage the fiscal and monetary situation as well as structural reforms on our own and we should be ready to join the Euro Zone on 1 January 2019.”

In what concerns the Euro Zone accession goal, Ioana Petrescu believes that: “At this moment the government maintains this goal. I too believe it is a very ambitious one but precisely in view of this very ambitious goal it is good to implement all reforms and to make sure the economy is on the right track so as to be ready to join the Euro Zone on 1 January 2019. This also means we should make do on our own after this agreement with the IMF is finalized this year.”


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