Stiri	Stiri afaceri	Stiri companii	Evenimente de afaceri

Bogdan Baltazar: IMF requirements perfectly feasible

The requirements of the International Monetary Fund (IMF) regarding the Budget law and the budget deficit are perfectly achievable, provided that political will and cohesion are in place, financial advisor Bogdan Baltazar on Monday declared for Agerpres.

'Talks with the International Monetary Fund (IMF) are over-politicised and this should not be so, because the Budget law can be adopted until December 10, if political consensus exists. If the new parliamentary majority wants it, the passage of the Budget Law is possible, and should this political cohesion be missing in the end, I hope the electorate will sanction this lack of civic spirit, because at stake now is national interest in the highest meaning of the word,' said Bogdan Baltazar.

Referring to IMF's requirement that the budget deficit be limited at 5.9 percent of the GDP, Bogdan Baltazar said that he considers 'it a perfectly achievable goal. Staff outlays increased by 20 percent compared to 2008. This is unacceptable and the figure should be cut back by 20 percent, by trimming both the numbers and wages of publicly paid personnel. The burden of the crisis cannot be shouldered by the private sector alone.

I try to be realistic, yet with a wave of optimism. I hope for the political will to be found so that the necessary steps are taken for the money to flow in this December,' concluded Bogdan Baltazar.

Romania's financing agreement with the IMF covers 24 months, with the international lender to disburse Bucharest a total of 12.95 billion euros in eight tranches, out of a support loan worth 19.95 billion euros; of this figure, 5 billion euros come from the European Commission, one billion euros from the World Bank and one billion euros for the European Bank for Reconstruction and Development and the European Investment Bank.

Romania has so far received 6.57 billion euros from the IMF, of which the second tranche amounted to 1.85 billion euros. The third tranche, the disbursement of which depends on the results of the talks currently held in Bucharest amounts to 1.5 billion euros.

A World Bank delegation is these days in Bucharest at the same time with the IMF mission, in order to discuss the requirements for disbursing to Romania the second loan under the Development Policies Program (DPL) totalling 360 million euros.

A EC delegation is also in Bucharest for talks with the Romanian authorities for the possible approval of a 1 bln euro tranche in early 2010.

Sursa: http://www.agerpres.ro

Tags: billion euros budget perfectly baltazar requirements bogdan euro

Articole similare