Home Page
 
News 04 Jan 13

IMF Mission Poses Test for Romania

An IMF audit mission, which is coming to eveluate to Romania's economic performance, is seen as posing a major credibility test for Prime Minister Victor Ponta.

Marian Chiriac
Bucharest

A team of auditors from the European Union and International Monetary Fund, IMF, is to come to Bucharest on January 15 to discuss the country’s draft budget for 2013 and its progress on reforms, the IMF representative for Romania, Tonny Lybek, said on Thursday.

“The IMF mission will talk with the Romanian authorities about recent economic evolutions, the draft budget and Romania’s monetary policies,” Lybek said. The team will end its mission on January 29.

The IMF delayed its mission, originally set for November 2012, until after the 9 December general elections and the installation of a new government.

Analysts say the visit will be a major test for the centre-left government of Prime Minister Victor Ponta.

“The visit is important as it will evaluate the latest structural reforms and the government’s commitment to continuing them," economic analyst Marian Dusan said.

"Romania needs a long-term partnership with the IMF, with goals including economic stability and recovery, reducing unemployment and improving competitiveness,” he added.

In its last evaluation report, the IMF in November said Romania needed to fulfill its existing commitments before it could conclude a new agreement, as several earlier planned reforms were not completed.

The Fund stressed the importance of health care reforms, adding that the education system also needed to offer better training to people to meet the demands of the labour market.

Romania has a difficult year ahead, as in 2013 it must repay 5.2 billion of a 20-billion-euro rescue package from the IMF, the European Union and the World Bank.

It obtained the loan in May 2009 in exchange for agreeing to push through austerity measures aimed at taming the country’s deficit.

Talk about it!

blog comments powered by Disqus

Related Headlines:

parliament-speaker-ilir-meta-elected-albania-president-04-28-2017
28 Apr 17

Albania MPs Elect Speaker Meta as President

With the support of the center-left majority, the speaker of Albania’s parliament, former premier Ilir Meta, was elected President of Albania on Friday amid an opposition boycott.

28 Apr 17

Sketches of the Balkans

28 Apr 17

Montenegro MPs Gather For Historic NATO Vote

Premium Selection

romania-s-slow-preparation-for-eu-presidency-alarms-experts-04-27-2017
28 Apr 17

Romania’s Slow Preparation for EU Presidency Alarms Experts

Experts are concerned by the slow pace of preparations in Bucharest for Romania’s EU Council presidency in 2019, when it will have to oversee thousands of high-profile events. 

croatian-islanders-fight-to-preserve-golden-beach-04-27-2017
28 Apr 17

Croatian Islanders Fight to Preserve Golden Beach

After the government scrapped an unpopular concession given to company over Zlatni Rat beach, islanders on Brac say they will fight on to ensure such precious resources remain in the hands of the community.

Latest News from the Balkans

28 Apr 17

Albania MPs Elect Speaker Meta as President