Blaga: IMF umbrella gives great margin needed for investment

Romania will need a new agreement with the International Monetary Fund (IMF) in the future, Minister of Administration and Interior Vasile Blaga said on Monday. He told a news conference that an IMF ‘ umbrella’ would give Romania a great margin with respect to the value at which the money is borrowed.

‘I think we’ll need a new IMF agreement. An IMF umbrella gives a great margin required for investment’, Blaga said. The minister added, however that such a discussion about a fresh loan is prematurely for the moment. When asked about a possible Cabinet reshuffle, Blaga said: ‘There is only one person in Romania that can tell when a reshuffle takes place: the Prime Minister’.

He said no reshuffle had been discussed at the ruling Democratic Liberal Party’s meeting. ‘A cut in the number of ministries was a mere opinion voiced by (Liviu) Negoita’, he said referring the Bucharest PDL district mayor.
Blaga had told a television channel on Sunday that Romania needed a new agreement with the International Monetary Fund. ‘I personally believe Romania needs a new agreement with the International Monetary Fund and a new agreement with the IMF can also mean a fresh loan’, he had stressed.