Franks spent over 6 hours at the NBR to discuss on economic revival

The visit of the IMF mission led by Jeffrey Franks started yesterday with prolonged talks, of more than 6 hours, at the National Bank, with the Fund’s official announcing that discussion issues would unusually include driving the economy back to growth. “We will meet with the NBR governor to discuss on monetary policy, economic growth, fiscal policy and the financial sector,” Franks had said ahead of the meeting with Mugur Is`rescu. During previous visits, Franks quoted as discussion issues at the NBR only monetary policy and banking system soundness, with talks on such issues as economic growth and fiscal policy coming as a first. The drawn out discussions at the NBR may have been inclusively caused by the diverging approaches on economic growth, with the central bank having lately insisted on the need to deepen reforms ahead of boosting economic recovery. In the case of previous visits, discussions at the NBR were the shortest, with negotiations being mainly carried out at the Finance Ministry.