The International Monetary Fund (IMF) has asked Romania not to endanger the progress it made in recent years on keeping a tight check on expenses.

“There is a pledge on Romania’s end to continue fiscal consolidation. We expect this pledge to be respected,” said Guillermo Tolosa, the IMF representative to Romania and Bulgaria. Great efforts have been made to strengthen Romania’s economy, so it is important for the country not to endanger this considerable effort, he added.

Romania’s latest agreement with the IMF dates from 2009, and it was the third such loan. It will most likely not be renewed. The IMF suspended talks about the current agreement and reviews until after the elections.

A second presidential elections round will take place this Sunday, November 16. Prime Minister Victor Ponta, who is expected to win the elections, said the Government wants to keep a 1.4% budget deficit in 2015, but to also increase pensions and salaries for public employees.

editor@romania-insider.com