Govt and IMF need success story

Romania has the chance to successfully see the current agreement with the IMF through, Jeroen J.M. Kremers, executive director representing the group of countries including Romania in IMF’s Executive Board on Monday said, according to a Government release. One condition needs to be met, though, and that is finally keeping every commitment related to the fiscal discipline strengthening, to restructuring and privatising the remaining state-owned enterprises and to completing the privatisation in the banking sector by mid October, when the agreement expires. The Government requested several dispensations and deadline postponements during the latest review of the agreement because of the failure to comply with the reform schedule agreed. The completion of the agreement would also be good for IMF’s image, which needs a success story, after so many failures in the countries using its recipes. Jeroen J.M. Kremers on Monday met with PM Adrian Nastase and agreed to the Government’s point of view, which set investments, and primarily the infrastructure ones, as a priority. The Finance Ministry is to consider the next form of co-operation with the IMF by this fall, as the current agreement expires in October. ZF