Romania’s Ministry of Finance started on Tuesday, October 13, the talks with International Monetary Fund IMF representatives on the 2016 state budget, according to Finance Minister Eugen Teodorovici.

“We’ll discuss well-known topics, mainly the 2016 budget, what structural reforms are to be implemented, the royalties, and so on,” said the Romanian Minister, cited by local Agerpres.

He added that a new agreement might also be discussed, as it might be a plus for Romania given the current international conditions.

Romania has had a series of loan agreements with the IMF and the European Commission since 2009. The last one ended in September this year.

In late September, Eugen Teodorovici said that Romania will ask the IMF for a new agreement this year. 

Central Bank governor Mugur Isarescu also said that a new agreement with IMF would give more credibility to Romania’s economic policy.

Irina Popescu, irina.popescu@romania-insider.com