The recent visit of the International Monetary Fund's (IMF) managing director to Romania is a sign that Romania's economic reforms are working, it has been claimed.
Mihai Tanasescu, the former finance minister, said the IMF visit was in no way related to the financial crisis in Greece, Financiarul.ro reported.
He noted that the visit had been planned months in advance and was designed to discuss Romanian issues.
Referring to the IMF's recent issuance of loan instalments for Romania, Mr Tanasescu added: "Following the eurobonds’ success and after the IMF Board having approved three weeks ago the release of tranches 3 and 4 related to the stand-by agreement, we are now dealing with a sequence of events leading towards a certain kind of credibility increase for Romania on external markets."
This week, prime minister Emil Boc told the Financial Times that the government will focus on public sector job cuts, wage restraint and pension reforms to help the country narrow its budget deficit and promote economic growth.
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