Romania Economy Romania shouldn’t start a new agreement with IMF, says Central Bank Governor
Romania shouldn’t start a new agreement with IMF, says Central Bank Governor
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Romania shouldn’t sign a new agreement with the International Monetary Fund (IMF), because it would not send a good message, said Mugur Isarescu, the Governor of the Romanian Central Bank (BNR).
Isarescu believes that concluding the current standby agreement as scheduled in 2013, and not signing a new agreement to follow on, will send a positive message about the health of the Romanian economy. It would also free the country from what he describes as ‘a more or less demanding teacher’. The Central Bank Governor said a new agreement at the EU level, such as the Fiscal Stability Pact, could be an alternative.
Romania’s current agreement with the IMF will be completed in 2013. The standby arrangement, worth EUR 3.56 billion, was approved and came into force in March 2011.
(source: www.romania-insider.com)
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