President Basescu thanks IMF for making fair diagnosis of Romanian economy

Romanian President Traian Basescu on Tuesday thanked the delegation of the International Monetary Fund (IMF) for the 'fair diagnosis' made for the Romanian economy and said the institution was 'more relaxed' in requiring the Government to make reforms.

'You have been far more relaxed than I have in my request for the Government to take serious steps and I have to admit this is a very good thing on the one hand, but on the other, I am waiting for more support on your part in forcing politicians to act in the direction of profound reforms,' Basescu told the IMF representatives invited at the Cotroceni Palace.

The head of the IMF mission, Jeffrey Franks, answered that the Fund representatives are seldom called ''too relaxed'' and added he was taking the President's statement as a compliment.

'That is the reality. If you compared my statement with your plan regarding the implementation of reforms, you would see you have been more realistic than I have,' Basescu answered, laughing.

The head of state thanked the IMF delegation for having made a fair diagnosis of the Romanian economy and for 'the professional approach' as regards the situation in Romania.

'I have a good feeling that this safety belt will get Romania through the crisis, which is excellent,' Basescu underscored.

Franks has said, in his turn, that he has worked hard, over the past few weeks, with the European Commission and the EIB, to synthesize the analysis of the economic situation.

Attending the meeting at the Cotroceni Palace were also Romania's representative to the IMF Mihai Tanasescu and director of international relations with the National Bank of Romania, Adrian Marinescu.

The IMF delegation, made up of nine members, was headed by Jeffrey Franks and by the IMF's regional representative to Romania and Bulgaria, Juan Jose Fernandez Asolo.

The IMF delegation on Monday afternoon, met with PM Emil Boc to discuss the conditions for a foreign loan that Romania might take out.

The PM later said there were high chances for the Government to sign a loan agreement with the IMF and the European Commission and that the executive was to adopt the final form of the letter to be sent to Washington on Wednesday.

The IMF delegation, headed by Jeffrey Franks arrived in Bucharest on March 11 to further assess Romania's macroeconomic situation and will end its mission on March 25th.

Rompres