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Tanasescu (IMF) : Romania's capital market should be encouraged

Romania's capital market should be encouraged because that means transparency and predictability, Romania's representative with the International Monetary Fund (IMF) Mihai Tanasescu told a specialist conference on Friday.

'The time has come for political programmes to include the capital market as well. The capital market means transparency, predictability and opening all possibilities to a company. The capital market means being held accountable for what you are doing. But, is there political will to open the doors of the companies to the capital market? The answer is categorically no. Poland has managed to finance easily in this time of crisis. Although Poland's deficit in 7 percent, it has never had financing problems. I think that we can say as a core idea that the capital market equals transparency and has to be encouraged,' said Tanasescu.

Romania has internal, external anchors to hold fast through potential crisis wave

Romania needs a predictable road, and it will know what it is to be done and handle a potential crisis wave, because it avails of both internal and external anchors, Romania's Representative at the International Monetary Fund (IMF) Mihai Tanasescu told a debate on economic topics, on Friday.

'We must understand very clearly that Romania needs a predictable path to place it next to the other countries and see the future's development engines and challenges. We know the world currently faces a huge crisis, which is expected to have violent tendencies. Romania knows what to do that a potential crisis wave should find it firmly anchored, because it has both internal and external anchors,' Tanasescu said.The Romanian official added that Romania needs plans that can be enacted also after the conclusion of the accords Romania and the international financial for a signed.

'What are we supposed to do after March 2013. Which way will Romania go, after there are no more external anchors? Which are the policies Romania has to enact, with the business environment, or the civil society, so that our country's credibility should enhance? Credibility and stability are needed more than ever. I hope the debate should not end here. At the moment, this world crisis has fully changed some principles, values, the governance principles and their meaning. We, very often, use words like economic governance or economic performance, but I believe they have completely different meanings, now. Good governance means policies, programmes, consistency and solidity,' said Tanasescu.

Agriculture represents Romania's potential for sustainable, precise and lasting development

Agriculture represents Romania's potential for a sustainable, precise and lasting development, Romania's representative at the International Monetary Fund (IMF) Mihai Tanasescu on Friday told the conference titled 'Romania, where to? Challenges and realities after the IMF and EC agreements.'

'In this respect, we need agricultural policies. Agriculture should be a permanent branch, to bring plus value to the Romanian economy and this needs willpower and a well-defined strategy,' Tanasescu said.

Moreover, in his opinion, health and education are the pillars for a society's development. 'Without education and health we cannot accede to technology and innovation, nor have a performing industry and agriculture,' Tanasescu showed.

Competitiveness is the key through which Romania can move forward in coming years

Competitiveness is the key through which Romania can move forward in the coming years Romania's representative at the International Monetary Fund (IMF) Mihai Tanasescu on Friday told the conference titled 'Romania, Where to? Challenges and Realities after the IMF and EC Agreements.'

'Competitiveness plays a key-role through which our country must move forward in the coming years. We need performing work in every sector. We must bring a plus value in what we do. We must innovate more, we must have more innovation and research in our work and for this the involvement of each individual is important,' Tanasescu showed.

According to him, a country's competitiveness is given by the set of policies and by certain factors determining the productivity level. 'We must think how we shall manage to meet these principles in the coming 4-5 years. The society needs to regard these things with responsibility and trust. We must have a cumulation of minds, people and ideas that should penetrate and be capitalized. The Romanian society must decide where it is headed, the ways, the means and the resources. To create predictability means stability and the hope for the better of all people,' Romania's representative at the IMF added.

He pointed out that economic governance within the European Union (EU) could only be done through fiscal discipline, through a tighter coordination of policies and in crisis management.

A joint IMF, EC and WB mission is in Romania in the period October 25 - November 7, for the third evaluation on budgetary policies within the stand-by precautionary agreement with Romania.

Mihai Tanasescu on Friday participates in the conference 'Romania, Where to? Challenges and Realities after the IMF and EC Agreements,' taking place at the National Bank of Romania and organized by Oxygen Events.

This edition approaches various aspects concerning Romania's strategy of coming out of the collaboration with foreign financing institutions, after the agreements with the IMF and the EC are due, and what the governmental practices should be in order to be credible and predictable.

Sursa: http://www.actmedia.eu

Tags: tanasescu romania potential through needs which coming policies after crisis mihai market capital romanias should encouraged international representative means friday

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