Mugur Isarescu: Romania does not need an IMF agreement 

Romania’s National Central Bank governor Mugur Isarescu considers that Romania does not need another financing agreement with the International Monetary Fund because the financing of the IMF addresses the consolidation of international reserves, to increase international credibility. In an interview for the business newspaper Saptamana Financiara, quoted by the Romanian news agency Agerpres, Isarescu talks at large about the prospects of a new IMF agreement.

Isarescu declared that Romania needs a precautionary agreement to strenghten Romania’s credibility and allow financing in case of a speculative attack against the Romanian currency. Romania should maintain its relationship with the IMF for a new agreement, which would allow Romania to access money if necesary.

Moreover, Isarescu declared that the Central Bak needs to prepare itself for second round effects from the austerity measures. The Central Bank needs to be alert to the market, Isarescu said.