Jeffrey Franks IMF: We have an ambitions agenda for Romania

He expressed his optimism regarding the new year and said that there is room for important progress. He showed that the agreement with Romania was never in danger but delays were caused simply because of the local political turmoil. He believes that 2010 will be a better one, with a significant growth and Romania could represent a success story. An IMF mission, together with representatives from the World Bank and EC are currently in Bucharest for a second and third revision of the stand by agreement. Romania is due to receive another installment, of 2.4 billion euro.

IMF money could arrive on February 21 the latest

The third installment of the IMF loan might be unlocked on February 21, the latest, Romania's representative to the IMF, Mihai Tanasescu declared for Radio RFI. He added that the 2010 priority is to restructure public spending and avoid an introduction of new taxes. On the other hand, Tanasescu said that the government should restructure public spending and avoid by all means to introduce new taxes. The 2010 budget rests on precisely this idea and if the program will be implemented as sketched, then no other measures will be necessary. Tanasescu said that the change of taxing regime is an important problem and the organization of a public debate is necessary.

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