President Traian Basescu announced on Wednesday after the oath ceremony for the appointment of the new government that he had approved the memorandum for the IMF agreement.
Basescu said that as he had already informed Prime Minister Victor Ponta in the discussion they had during the day, he approved the memorandum to sign the letter with the International Monetary Fund.
"If you read the program carefully, you will see that there is a lot to do for each of you," the president told the new ministers were sworn in at Cotroceni, Mediafax reports
He added that the majority of the precondition were already fulfilled.
"I hope that this agreement with the IMF, which is basically a government program, be fulfilled for the wellbeing of Romania. Even if the measures are not convenient, I am convinced that they will help increase the country competitiveness," the president said.
The Head of State made it clear that Romania had a problem in terms of increasing competitiveness in state companies.
According to a press statement by the Presidential Administration, Traian Basescu signed Wednesday the "Memorandum on: Approving the outcome of talks held during January 21-February 4, 2014 in the Joint Assessment Mission of the International Monetary Fund, European Commission and World Bank related to the current program precautionary financial assistance, B. Approval of the signature by Mr. Victor-Viorel Ponta, Prime Minister, together with the governor of the National Bank, of the Letter of Intent ".