The IMF X-rays the economy

The poor correlation of fiscal policies with monetary policy, which does not help maintain macroeconomic stability; the unresponsiveness of fiscal policy to economic fluctuations; the evolution of budget expenses and revenues in 2005; as well as prospects for the year ahead. These were all topics on the agenda in discussions between IMF experts present in Bucharest and the authorities last week. These evaluations come at a time when the periodic report, providing an ?”X-ray” analysis of the economy, is being prepared for each country that is a member of the International Monetary Fund, according to Article IV from the statutory documents of the institution, and which will be submitted to the board of the IMF in April. “These talks are different to those we have for a stand-by or precautionary stand-by arrangements. We”re having consultations that will lead to a correct understanding of the what”s going on in the Romanian economy. We are positive that the IMF experts” report will be a balanced one,” stated Claudiu Doltu, state secretary with the Finance Ministry. ZF