Basescu: New IMF Loan Deal Is 100% A Romanian Government Program

05.19.2011 ZF English

President Traian Basescu on Thursday dismissed any claims that the International Monetary Fund would be a "God's whip" above the Romanian Parliament and Government, insisting the local authorities have imposed their own will in the new deal with the IMF.

The new agreement with the IMF is "an entirely Romanian government program," Basescu told an economic seminar organized by Ziarul Financiar.

Romania and the IMF signed a EUR5 billion loan agreement, successor to a larger EUR20 billion bailout package that ended in April this year.