Blaga: IMF umbrella gives great margin needed for investment

Publish date: 15-06-2010
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Romania will need a new agreement with the International Monetary Fund (IMF) in the future, said Minister of Administration and Interior Vasile Blaga, telling a news conference that an IMF ‘umbrella' would give Romania a great margin with respect to the value at which the money is borrowed.

'I think we'll need a new IMF agreement. An IMF umbrella gives a great margin required for investment', said Blaga, adding however that such a discussion about a fresh loan is prematurely for the moment.

When asked about a possible Cabinet reshuffle, Blaga said: 'There is only one person in Romania that can tell when a reshuffle takes place: the Prime Minister'. He said no reshuffle had been discussed at the ruling Democratic Liberal Party's meeting. 'A cut in the number of ministries was a mere opinion voiced by (Liviu) Negoita', he said referring the Bucharest PDL district mayor

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