The Romanian Finance Ministry would want a new agreement with the International Monetary Fund (IMF), as this would allow Romania to borrow cheaper from the local and international markets and improve the country rating, finance minister Eugen Teodorovici said in a TV show.

He pointed out, however, that in order to talk about a new agreement, Romania must first close the current one in good conditions.

“We must first close the ongoing one, which expires in September 2015. We will certainly close it in good conditions,” Teodorovici said, reports local Agerpres.

He added that although Romania has fallen behind on several issues, the Government will try to finalize what it has agreed with the IMF and the European Commission by the end of this year.

The Romanian Government and the international institutions have had their share of disagreements in the second half of last year on the social security tax cut. In the beginning of this year, talks focused on the gas price increase and the thermal power sector restructuring.

A new IMF and European Commission technical mission will come to Bucharest between May 19 and May 26 to evaluate the Fiscal Code changes the Government plans to implement next year.

editor@romania-insider.com