PM: Romania doesn't need an IMF precautionary agreement anymore

Romania no longer needs a precautionary agreement with the International Monetary Fund (IMF), but rather a flexible agreement, like the one Poland currently has, which would not cost the country anything, said yesterday the Prime Minister Victor Ponta, reports local Ziarul Financiar. He added that negotiations on this will take place after the existing agreement ends. Romania currently has a 2 EUR billion stand-by agreement with the IMF, which expires in September next year, which is a preventive deal and whose funds haven't been accessed by the authorities so far. A new agreement with the IMF could help reduce the investors' fear that the economic and financial progress made by Romania in the recent years will be reversed once the country will not receive support from the financial institutions. editor@romania-insider.com