Tonny Lybek: IMF wants Romania to present a credible budgetUpdated: 02-12-2009 | Economy

The International Monetary Fund (IMF) does not want Romanian politicians to simply adopt a budget, but wants this to be a credible budget as well, IMF representative in Romania and Bulgaria Tonny Lybek on Monday told Agerpres.

'No specific date has been set for the arrival of the next IMF assessment mission in Bucharest. The Fund can react very fast if the Romanian politicians succeed in adopting a budget, but not just any budget, but a credible one,' said the head of the IMF Office in Romania.

'A credible budget for 2010 will have to comply with the deficit of 5.9 percent of the GDP agreed upon. Then, as far as the cutback in budget expenditures is concerned, they must be realistic and feasible and revenues need to be collectible as per the economic projection. Of course, all the other conditionalities Romania has committed to also need to be observed,' said Tonny Lybek.

At the end of the assessment mission, the IMF Board of Directors will decide if the Assessment Report can be completed and this depends on the progress made by Romania.

The date when the IMF delegation will come to Bucharest again entirely depends on the Romanian politicians, added Lybek.

An IMF, a World Bank and a EU mission were concomitantly in Bucharest over October 28 - November 6, to assess the fulfillment by the Romanian authorities of the commitments undertaken towards the Fund.

We are ready to send a mission to continue and finalize the talks as soon as the situation allows it. The International Monetary Fund stays committed to Romania, regardless of the country's political climate, head of the IMF mission Jeffrey Franks said at that time. On the same occasion, Jeffrey Franks also stated that the three delegations had come to Bucharest to prove that they want to do everything in their power for the Agreement with Romania to be carried through.

Agerpres