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May 18, 2022

IMF technical mission expected in Romania on Wednesday

A technical mission of the International Monetary Fund will arrive in Romania on Wednesday; the National Tax Administration Agency (ANAF) is one of its objectives, official sources told Agerpres on Tuesday.

Finance Minister Eugen Teodorovici had announced in June that the IMF mission was expected in mid-July. On July 17, he restated that Romania’s agreement with the IMF and the European Commission stands, and the country must use the remaining time to meet as many commitments as possible. He mentioned that a new agreement had not been discussed, but could be “when the present one is completed.”

On the other hand, European Commission Vice President Valdis Dombrovskis declared after the July 13 meeting of the Economic and Financial Affairs Council of the EU that the EC was worrying about Romania’s balance of payments programme; he recommended the Romanian authorities to adopt the necessary reforms by September.

The current EU programme of financial assistance to Romania has been approved in October 2013; it runs in parallel to the stand-by agreement with the IMF. The programme was preventive and no funds were drawn. It was meant to support Romania’s macroeconomic, fiscal and financial consolidation and to improve the country’s growth potential and economic resilience; the focus was on the administrative capability, the reform of the tax administration, the management of public finances, the governance and the restructuring on state-owned companies.

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