Romania-IMF agreement is impossible this year, Isarescu states

A stand-by agreement with the International Monetary Fund (IMF) is impossible to have this year, Mugur Isarescu, the governor of the National Bank of Romania (BNR) stated during a press conference presenting the quarterly inflation report.

The BNR representative invoked the fact that we have a small current account deficit, of under 1 percent, which would not justify such an accord.

“The second thing that makes it difficult for an agreement of this type is that the previous one ended as it did,” Isarescu added.

BNR released its quarterly report on the inflation today, increasing its estimations from 1.1 percent to 1.4 percent for this year and from 2.8 percent to 3.4 percent for 2017.

Natalia Martian

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