Romania´s President Opposes the IMF

People ♦ Published: January 24, 2014; 21:24 ♦ (Vindobona)

Traian Basescu is strictly against imposing an additional tax on fuel. Whether Romania will achieve the budget target is highly uncertain.

Romania´s President Opposes the IMF / Picture: ©

In July 2013, Romania´s government has secured a preemptive loan in the amount of € 4.0bn. The loan will be only drawn in case of need. According to the agreement, Romania is obliged to achieve a budget deficit of 2.2% of the GDP.

Now, Romania´s negotiations with the IMF are proving difficult. After a meeting with representatives from the IMF in Romania´s capital Bucharest,…