Tonny Lybek: Romania charged risk fee for political crisis

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Romania was charged a risk fee for the political crisis, Tonny Lybek, IMF representative in Romania and Bulgaria, on Friday told the conference “Challenges and opportunities in bilateral cooperation in the current economic context,’ organized in Bucharest by the Embassy of Norway.

As soon as we have a government and a credible budget in place, a method to determine feasible expenditures and credible measures to rise collections, we will be able to continue our program. The hardest part is not over yet, because unemployment and bad loans will grow further, which will render capital infusions the more so necessary, said Lybek.

The IMF representative added that pensions will have to be pegged to the inflation rate, not to wage growth, and mentioned that there are some 470 salary scales which need to unified.

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