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Pascariu, Unicredit Tiriac : « Another IMF loan, necessary only if the state does not “tidy up in the house”
Romania needs another loan from IMF only if the state does not clean up and has to draw funds for consumption expenditure, the chairman of the Board of Unicredit Tiriac Bank, Dan Pascariu. He explained that the IMF money went into the reserves of the central bank, as a reserve fund, but one part of the sums from IMF and EU were sent to the payment of salaries and pensions “ which is a problem”.
Moreover, Doru Lionachescu managing partner Capital Partners considered that the only losers of the present crisis are those in the future generations as the states got into debt to save the banks.
President Traian Basescu stated, at the beginning of September that in October there will an analysis of a possible new IMF agreement.
“The proposal to you is that, on the occasion of the next visit in October, we should have a look at the next agreement between Romania and IMF, to see if the right solution is the extension of the present agreement or a “precautionary” agreement, this is my message to you and at the same time, we are trying to continue the structural reforms and the absorption of European funds. The creation of a fiscal zone necessary for the absorption of funds is necessary” Basescu said to the head of IMF mission to Romania, Jeffrey Franks.
Romania has under development, since the first part of last year an agreement for two years with IMF, EU, World Bank and BERD for foreign loans worth 19.95 billion euro. The contribution of the EU is 5 billion euro.
Up to now, Romania has received 10.7 billion euro from the Fund, 2.5 billion euro from the Commission and 300 million euro from World Bank.