Romania will fail to conclude a new agreement with the International Monetary Fund (IMF) before next year’s elections as the authorities want, given the country’s history of poor evaluations from the IMF and the increase in the budgetary deficit next year, according to ING Bank Romania, reports local Mediafax.

Finance Minister Eugen Teodorovici said this week that the Government and an IMF mission had started talks on the next year’s draft budget. The talks will also revolve around the structural reforms that have not been met in the previous agreement as well as around a possible new agreement with the IMF, which is more flexible.

Romania’s previous agreement with the IMF and the European Commission ended in September.

editor@romania-insider.com