British expert: Romania needs an IMF agreement to regain credibility on international markets

The option put forward by Romania’s President to get a loan from the EU under the supervision of the IMF is the best solution, but the EU wants to set out the rules, British expert Jim Rollo declared in an interview for HotNews.ro. Moreover, he added that the IMF might as well refuse to monitor an agreement where there is nothing at stake. However, for Romania, the grant would help the country regain credibility on international markets.

Rollo added that due to the money at stake, the most probable solution would be to have a mixed loan, both from the IMF and from the EU institutions. However, if Romania receives a loan from the EU, then it will have to do it under EU terms.

Overall, a EU grant will offer Romania less harsher conditions but in the same time, it is not sure whether IMF experts or their European counterparts will agree to Romania’s conditions. Romania’s main challenge is to gain credibility on the international level in order to be able to gain loans from the capital markets. This should, in Rollo’s opinion, be the priority of the government.