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Lybek (IMF): No date has been set for future IMF mission

No date has been set for the future mission of the International Monetary Fund, the IMF representative for Romania and Bulgaria Tonny Lybek told a financial conference on Tuesday.

We have no set dates for the next missions, either we or the World Bank. We are ready to come when the Romanian authorities are ready, Lybek said.

He stressed that the fiscal measures agreed with the Romanian authorities in August in order to cut the budget deficit were delayed for various reasons and added the 2009 deficit target is 7.3 percent of GDP; the IMF supposes the Romanian authorities will do everything possible to attain this target, he said.

Lybek had told Agerpres at the end of November that the IMF does not want Romanian politicians to simply adopt a budget, but wants this to be a credible budget as well.

'A credible budget for 2010 will have to comply with the deficit of 5.9 percent of the GDP agreed upon. Then, as far as the cutback in budget expenditures is concerned, they must be realistic and feasible and revenues need to be collectible as per the economic projection. Of course, all the other commitments Romania has made should also be observed,' he said.

At the end of the assessment mission, the IMF Board of Directors will decide if the Assessment Report can be completed and this depends on the progress made by Romania.

The date when the IMF delegation will come to Bucharest again entirely depends on the Romanian politicians, added Lybek.

An IMF, a World Bank and a EU mission were simultaneously visiting Bucharest over Oct. 28 - Nov. 6, to assess the fulfillment by the Romanian authorities of the commitments undertaken towards the Fund.

We are ready to send a mission to continue and finalize the talks as soon as the situation allows it. The International Monetary Fund stays committed to Romania, regardless of the country's political climate, head of the IMF mission Jeffrey Franks said at that time. On the same occasion, Jeffrey Franks also stated that the three delegations had come to Bucharest to prove that they want to do everything in their power for the Agreement with Romania to be carried through.

The financing agreement worth a total of 19.95 billion euros spans 24 months, with the IMF due to extend Romania 12.95 billion euros in eight tranches. The European Commission, World Bank, EBRD and EIB will provide the rest of the amount, specifically 5 billion euros will come from the European Commission (EC); 1 billion euros from the World Bank (WB); and 1 billion euros from the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB).

Sursa: http://www.agerpres.ro

Tags: billion euros budget romanian mission romania lybek

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