Franks, IMF: Good to have economic recovery in Romania, but sustained growth needed

Jeffrey Franks, the head of the International Monetary Fund (IMF) delegation in Bucharest said that it is good Romania continues its economical recovery, but that a sustained economic growth is needed, a growth that should be reflected in the purchasing power of the population. "It is vital for Romania to maintain the risk at a low level, to keep applying reforms, and to also keep the economical recovery," said Franks during a meeting with the Romanian President of the Senate, Mircea Geoana. “There is no point to have economical growth if it's not felt by the population”, said the head of IMF delegation. A joint team formed of the International Monetary Fund (IMF), European Commission (EC) and the World Bank started this week the second evaluation of the country’s new stand-by agreement. The representatives of the international institutions will analyze how reforms were achieved in the first half of this year. The joint team will end its mission in Romania on August 1. Irina Popescu, irina.popescu@romania-insider.com (photo source: Sxc.hu)