Romanian president: Talks for new deal with IMF to start in October

Romania is looking at extending its financing agreement with the International Monetary Fund and will discuss the future agreement at the October review mission. Romanian president Traian Basescu mentioned the future deal with the IMF at a meeting with Jeffrey Franks, the head of the IMF mission in Romania. “My proposal is that in October we look at the future agreement with the IMF and see if the correct solution is to extent the current agreement or sign a precautionary agreement. This is my message to you. We also continue the structural reforms and the absorption of European funds. The creation of a fiscal framework to absorb European funds is required,” said Traian Basescu. romania-insider.com (in picture, left to right: Jeffrey Franks, Traian Basescu)