Loading ...“The talks to begin on Wednesday in Bucharest should be approached in a realistic manner, so I hope the new Letter of Intent will be eventually completed. After January 5, we will learn the figures reflecting the evolution of Romanian economy in end-2009 and I think they will meet the objectives we had set out to achieve.
One of the main topics of discussion between the IMF and the Romanian authorities will be Romania’s 2010 budget. “Romania’s budget, which was built together with representatives of the International Monetary Fund (IMF) and those of European Commission, is a credible structure.
Nevertheless, hard times are just beginning, with the most important thing right now being the implementation and execution of this budget, in conditions of credibility, in the quarters to follow, so that requirements of structural reforms that were envisaged in the budget be met,’ said Mihai Tanasescu.
As they appear in the budget, revenues do not seem oversized so that, with a better collection and an accelerated reform in tax administration, budget entries might at some point be seen switching on an upward trend,’ the Romanian representative at the IMF said.
According to practice in force at the IMF, if an assessment report is completed and approved, the tranche will be released within 48 hours. Under these circumstances, if the IMF’s Executive Board will meet sometime between February 16th and February 20th, the 2.3 billion euros could be transferred to Romania at some point between February 18th and February 22nd.
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