IMF meets Romanian President, demands that commitments be met, urges education reform

The Romanian President Traian Basescu had another meeting at the Cotroceni Palace with representatives from the International Monetary Fund (IMF), European Commission (EU) and World Bank (WB) today (November 14), during which the delegates again demanded that Romania meet its reform commitments. The meeting marks the end of the joint visit to Romania to discuss progress ahead of the country's elections.

The President (in picture) discussed fiscal and monetary policy, as well as the progress under the standby arrangement and the possibility of another new IMF agreement when the current deal expires next year. The delegates said that any future deal would be dependent on Romania fulfilling its existing commitments to the IMF, highlighting the outstanding structural reforms, agreed but yet to be completed. President Basescu told the delegation that Romania's most important objective is to implement measures to create sustainable growth. The delegates said that to increase growth, greater productivity as well as more investment in upping productivity and further investments in human capital would all be necessary. Mission chief, the IMF's Erik de Vrijer pressed the issue of health service reform, which President Basescu has also raised recently. De Vrijer also said that Romania's education system needs to be reformed to better prepare students for the modern employment market. The head of state also had a meeting at the Cotroceni Palace with the delegation from the IMF, EC and WB last Thursday, November 9. editor@romania-insider.com photo source: presidency.ro