The Romanian Government has not done much in the way of reformsin the first quarter of the year, so the IMF mission this timecomes to Bucharest proposing "very concrete measures" aimed atcutting the budget deficit, says Mihai Tanasescu, Romania'srepresentative to the IMF.
"Not much has been done in the first quarter. The law on fiscalresponsibility has been approved, but its effects will not be seenin the immediate future. Concrete measures for cutting publicspending are expected in the third and fourth quarter of the year.I am sure this time clear measures will be identified together withthe Government in order to finally get the desired results. Ofcourse, implementation will continue to be the problem, becausethere is already a big gap between commitments and achievements,"Tanasescu told ZF in an interview given before the start of a newround of talks between the IMF and the Government as part of thestand-by arrangement signed a year ago. He did not wish to providedetails on the measures the Fund had in mind, considering thatnegotiations will follow. What is certain is that this is expectedto be the most complex series of talks since the signing of thearrangement, after the IMF proved to be extremely tolerant andcontinued to release tranches despite constant delays in reformsengaged by the Government.
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