Financiarul

The International Monetary Fund (IMF) is attentively watching the development of the political situation in Romania, while it anticipates no break in the implementation of the Stand-By Arrangement (ASB) with Romania and no change in its policy towards this country, Jeffrey Franks, the head of the IMF mission to Romania on Thursday said in a release to Agerpres.

The IMF programmes are meant to support the healthy economic policies of partner states, and not of a particular government or political party.

Thus, an IMF assessment mission will be scheduled in Romania as soon as the new government is established, reads the IMF release.

We want to remind you that President Traian Basescu on Wednesday said that ‘without the two tranches from the IMF and the EU expected in October, November and December the country will face a very difficult situation and I say this very openly, we might be in the situation not to be able to pay salaries and pensions.’

On Thursday, President Basescu specified that ‘the assessment mission (i.e of the IMF) will be scheduled as soon as Romania has a new government approved by the Parliament too. The effects of a delay in establishing a competent government to have also the approval of the Parliament will be extremely severe for Romania.

Even with the 300-million we are indeed to receive from the World Bank next week – with this tranche being in no danger – Romania needs to receive two more tranches by the end of the year: one from the IMF, worth 1.5 billion euros, with half of the money to be used to cover the budget deficit, and another instalment from the European Union, worth 1 billion euros, to be also used to cover the budget deficit.

That’s why, it is essential we have a government approved by the Parliament in no time, to be also able to negotiate with the International Monetary Fund and with the European Union,’ Basescu said.