The Cioloş Government will not conclude a new agreement with the international financial institutions, namely the International Monetary Fund, the European Commission and the World Bank, according to government sources. The new Executive does not consider our country needs such a safety belt, capital.ro reports.
The last agreement, a preventive one, which Romania signed with the international financial institutions, expired in September. The negotiations for it lasted a year, they were rather formal, without a letter of intent to be approved by the board of the institution.
Initially, the Ponta government announced that our country wants a new understanding, a more permissive one with the IMF. And negotiations were supposed to begin in March next year. But the new Executive excludes this option.
In 2009, Romania signed a stand-by agreement for a period of two years, with IMF, the European Commission and the World Bank, worth 20 billion euros. This agreement was renewed several times until this year.