IMF relation criticised Updated: 29-07-2010 | Financial and Banking

Romania is a sovereign country and, if the Romanian government thinks the country is better off without the IMF, each can choose to walk its own way, the head of the IMF mission, Jeffrey Franks, stated, quoted by Mediafax, after talks with trade unions, patronages and entrepreneurs. The latter were hoping for concrete proposals for emerging out of the financial crisis, but the head of the delegation explained that the IMF has no such prerogatives. "We do not come up with measures. The Government takes measures and we support the Government's plan for action," Jeffrey Franks stated, in response to criticism.

Moreover, the latter argued that "Romania is a sovereign country, which may decide to put an end to the agreement with the IMF, but the Government does not consider it should renounce the agreement. The Government thinks we are playing an important part, and our intention is to assist in any way we can so that Romania may emerge out of the recession." These statements come in response to those made by the businessman Dinu Patriciu, to the effect that representatives of the IMF "live in a theoretical world" and know nothing of Romanian economy, and that the Romanian authorities should find a way of dropping the agreement with the international institution. "I think we should find, as others before us, a quick way to send them packing home," Patriciu stated. The businessman stated, on the adevarul.ro video chat, that Ion Tiriac had proposed to the IMF delegation the fiscal amnesty.

At the same time, Jeffrey Franks stated that the business community presented a list of claims for the recovery of economy, and the IMF "took note of it". The head of the IMF mission to Romania explained that "we always like to meet the business community and trade unions, to know what they think about the progress of economy, to find out what they think are the best ways to get the economy back on track, as well as their concerns."

Nine O'Clock