FT: IMF's traditional medicine for Romania starts to pay off

The traditional remedy prescribed by doctor International Monetary Fund (IMF) for Romania seems to pay off, writes Andrew MacDowall in the Financial Times blog.

“While eurozone policy makers thrash out the growth vs austerity debate, the evidence from Romania seems to be that the traditional medicine works,” writes the FT. The article underlines the progress made by Romania, which was acknowledged by the IMF, but still mentions the downside risks and the long way reforms still have to go. The new Government, led by Victor Ponta, has to juggle international commitments with the political pressures of an elections year. “After the vote, whoever is in government will face the usual Romanian situation: tremendous potential, but big challenges,” the FT author concludes. Read the full story here. editor@romania-insider.com