Senate chairman writes to IMF World Bank and EC

10 Noiembrie 2009

Information in English

Senate chairman and leader of the Social Democratic Party (P SD) Mircea Geoana at the end of last week addressed a letter to the International Monetary Fund (IMF), World Bank (WB) and European Commission (EC) executive directors, notifying these institutions of the Romanian Parliament’s intentions to meet the commitments assumed under the agreement with the IMF, the fast-track adoption of the 2010 state budget included.

Mircea Geoana also stressed that the one who sparked the political crisis in Bucharest is the President of Romania. The letter is addressed to IMF Managing Director Dominique Strauss-Kahn, World Bank President Robert B. Zoellick and European Commissioner for Economic and Monetary Affairs Joaquin Almunia.

“Following the talks IMF representatives have had with PSD and the leaders of the political parties that form the majority in the Parliament of Romania, the clear idea emerged that the adoption of the 2010 budget is a national priority and a prerequisite to Romania’s duly receiving the third loan tranche,” reads a PSD release.

As a consequence, continues the cited letter, taking into account Romania’s national interest and the commitments assumed under the agreement with the IMF, the Romanian Parliament, convened in a joint session on November 4, 2009, adopted the following documents:
a Declaration of the lawmakers’ commitment to observing the obligations and macroeconomic indicators set forth in Romania’s Stand-By Arrangement with the IMF; a resolution for the Government to refer the draft state budget law and the draft law on the 2010 public social security budget.

In accordance with the resolution adopted by the Romanian Parliament based on Art. 67 of the Constitution of Romania, the 2010 draft budget will reach the lawmakers’ desks and will be adopted before the meeting of the IMF Executive Board, notes the PSD president.

“In my capacity as chairman of the Romanian Senate and PSD president I assure you of our determination to act with full responsibility and carry through the commitments set forth in Romania’s financial arrangement with the International Monetary Fund, the European Union and the World Bank.

To this end, our lawmakers will file on Monday, November 9, a legislative initiative concerning the approval, within shortest time, of the Fiscal accountability bill. This approach is part of our efforts to meet another commitment of the Romanian state towards its international partners. I would also like to stress the existence of a stable parliamentary majority of 65%, which, by the will expressed in the Romanian Parliament, guarantees the observance of the terms of the Agreement and the fulfillment of the commitments falling on our country.

For this reason, beyond the internal political crisis triggered by the President of Romania, through PSD’s ousting from rule and the refusal to accept the will of the parliamentary majority and appoint a Prime Minister who would have the backing of 65% of the Bucharest MPs, I assure you that the Romanian lawmaking body stays an open and responsible partner of dialogue that will act with all determination towards the fulfillment of the assumed obligations,” said the PSD president.

Geoana promised that after December 6, Romania will put an end to the political crisis and will return to normalcy, predictability and rebuild confidence in the relationship with international partners.

“Even if the current President of Romania has not taken action to limit the effects of political crisis and the economic costs thereof, the Government that will take over after the December 6 and which will undoubtedly enjoy the support of a parliamentary majority, will set all the necessary measures in place to address the economic crisis and achieve the goals established together with the international financial institutions.

I conclude this letter by reassuring you that the Parliament of Romania and the party I am heading will act with responsibility and determination to meet the obligations assumed by our country towards the International Monetary Fund, the European Union and World Bank,” reads the conclusion of the letter of the PSD president.

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