Băsescu: I would now call the IMF. The current coalition does not assume what needs to be done for the recovery of the economy
Traian Basescu. Photo: Inquam Photos – Elena Covalenco
Former president Traian Băsescu states that, in his opinion, the Romanian state should request the intervention of the International Monetary Fund (IMF) considering Romania's economic situation, explaining that he is making this suggestion because “the current coalition neither technically nor politically assumes what needs to be done for the recovery of the Romanian economy”.
“I don't want to give my recipe as an infallible recipe. I'll tell you what I did in 2010, together with Emil Boc, but then there was also a big global crisis, it wasn't only the 9% deficit that we had in 2009, if we took the measures in 2010. It was a global crisis and there was no money to be found, now money is being found, at high interest rates, but it is being found. I would now call The International Monetary Fund is coming. The Fund does nothing but order the measures and tell you what are the best measures to reduce the deficit, on the one hand, and on the other hand to reduce the interest on the loans you have”, said Traian Băsescu, in an intervention on the B1 TV channel, according to News.ro.
“I think that the current coalition, neither technically nor politically, assumes what needs to be done for the recovery of the Romanian economy, because, fundamentally, the problem is to recover the economy, while at the same time reducing the operating expenses of the state. This coalition must do them and, because it is not doing them, I have this suggestion: to call the Fund”, added Băsescu.
He argued that an IMF intervention would require “cheap money” and the fact that activities aimed at reducing the country's budget deficit can be ordered.
Băsescu recalled that last year Romania paid 11 billion euros in interest, and this year the figure will be, according to him, at 20 billion euros.
“I would call the Fund as a preventive measure, out of prudence I would call the Fund, for a credible management of the measures to be taken”, added Traian Băsescu.
