Romania is only country that asks IMF money for covering deficit

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Romania is the only country in the region that asked the International Monetary Fund (IMF) sums as part of the loan agreement for covering the budget deficit, said on Thursday, vice-governor of Romania’s Central Bank, BNR, Cristian Popa, at a presentation of the quarterly report regarding inflation.

„We are the only country that has asked IMF sums of money as part of the loan agreement for covering the budget deficit, ” said Popa.

The second tranche of the IMF loan can go directly to the budget, but for that necessary are legislative modifications, as well as talks at the level of IMF, but the sums of money go also to the BNR reserve in a way or another, said BNR governor Mugur Isarescu.
„A team of BNR is discussing the issue, theoretically this can be done, but in practice…

If things were so easy, I would have done it, but some legislative modifications are necessary, but the IMF has to talk in Washington,” said the governor.
He mentioned that the loan from IMF goes by all means to the BNR reserve.

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