While stressing that he is not considering a loan from the IMF, because this would draw Romania back to the 1990s, Basescu said the country needs a supervisory agreement with the fund, because the EU lacks such a tool to check how funds lent to member states are spent.
However, Basescu indicated that an agreement with the IMF should not include conditions for Romania, and that the EU must fulfill its commitments to member states, also granting loans to countries outside the euro-zone.
Basescu denied that the authorities are discussing loans from the European Bank for Reconstruction and Development (EBRD) or the European Investment Bank (EIB). Both an IMF and EC missions are currently in Romania to examine the country’s macroeconomic situation and its outlook. A new commission is set to come to Bucharest to discuss a possible loan. Sources close to the discussions between IMF representatives and Romanian officials said that a loan from the EC and supervised by the fund is not possible.
