President Basescu already considers another agreement with the IMF even though the current agreement did not end

Romania’s President launched some interesting messages during his meeting with IMF Managing Director Dominique Strauss Kahn. He said that Romanian considers a long term cooperation with the IMF. He added that when the current agreement ends, Romania will most probably request a stand by agreement of assistance or a flexible credit line.

The President’s underlined the appreciation towards the IMF’s decision to support the country in such difficult situations and also for the future projects. Bankers declared that Basescu’s declarations are premature, and warned that as long as the budgetary deficit is high, another loan is not a solution.

Romania needs to find out financing sources not just agreements which come along with conditions, sources declared for HotNews.ro. One of the main responsibilities of the IMF is to offer agreements to countries facing difficulties with their balance of payments.