IMF calls on continuation of reforms, says IMF senior advisor Mihai Tanasescu

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The International Monetary Fund (IMF) called on Romania to continue structural reforms in the field of central and local administration, state enterprises, that may lead to the removal of losses reported so far and the stimulation of investments in infrastructure, health and education, said Mihai Tanasescu, senior advisor at the International Monetary Fund.

Another issue approached at the meeting of the IMF Executive Committee which analysed the way Romania is fulfilling the economic parameters established by the Stand-By Agreement with the International Monetary Fund, refereed to the sustainability of financial policies, considering that Romania committed before the EU and the IMF to shrinking the fiscal deficit to maximum 3 percent of the GDP by 2011, Mihai Tanasescu told Radio Romania public radio station.

‘This means that years 2010 and 2011 will be years of solid reforms, that will re-organise public spending, change priorities of the spending and turn the way the public money is used more efficient.
The IMF Executive Council stressed that Romanian financial system is stable, strong and lucrative, however the reform of the system led to a more cautious attitude towards risk, said Mihai Tanasescu.

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