Voinea: Romania’s current deal with the IMF will surely be the last one

Newsroom 20/05/2014 | 14:46

The current agreement Romania has struck with the international Monetary Fund and the European Commission will surely be the last one it ever needs, according to Liviu Voinea’s comments, delegate minister for the Budget, economica.net reports.

After 2015 we will no longer have a deal. This will surely be the last agreement with IMF and the European Commission. We had a deal for EUR 20 million in 2009. The money was taken. Another deal in 2011 for EUR 5 million, the money wasn’t taken and it was a preemptive deal. Another agreement in 2013, for EUR 4 billion – IMF and the European Commission – the money will not be taken again, but it is a stability agreement, it ensures an anchor“, according to Voinea.

The IMF Board approved a letter of intent from the Romanian government on September 23, 2013, for a new preemptive deal worth EUR 2 billion, which adds to another EUR 2 billion from the European Commission.

Earlier in the month, Mugur Isarescu, governor for the Central Bank of Romania, gave voice to his belief that Romania can sustain itself without an agreement with the International Monetary Fund and retain its credibility, given that the loans have been mostly reimbursed.

Asked by the press if he believes that Romania could stand on its own two legs and be credible without an agreement with the IMF, the governor responded: “Yes, I believe that”.

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