Agreement with IMF approached by the Gov’t

Members of Boc cabinet convene on Tuesday at 4 p.m. in an extraordinary meeting of government in order to discuss about the agreement with the International Monetary Fund.

On Monday night, the Executive Board of the IMF has examined the results of the first assessment missions on Romania’s fulfilment of economic parameters of the Stand-by Agreement, mission that was in Bucharest early in August.

The International Monetary Fund said it was too early for the governments to put an end to the support measures for the financial sector, but it stressed that the governments have to coordinate strategies for removing these support measures, which considers rather efficient in counteracting the crisis, as AFP informs.

Finance minister Gheorghe Pogea on Monday gave assurances that there were no reasons for concern regarding the next two IMF instalments for Romania, however he didn’t say whether the funds will be also directed to the payment of pensions and wages.

According to Pogea, the funds worth 1.788 billion euros, representing the instalments for September and December will be used for the financing of the budget deficit, with investments being the most important component.

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