IMF: Romanian 2012 Elections Pose Risk To Reforms

The 2012 elections pose the greatest risk to the reforms assumed by Romania before international institutions, as the Government might undo some of them, arguing that the crisis is over and the economy is recovering, said people close to the talks between the IMF and Romanian authorities.

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Next year, Romania will hold local and parliamentary elections.

The IMF has urged the authorities to decide on a course of action concerning state-owned companies: privatization, shutdown or restructuring.

In March this year, Romania and its international partners agreed on a EUR5 billion follow-up precautionary deal that will end in 2013. Joint teams from the IMF, the EU and the World Bank will be in Bucharest until May 9 for the first review of the follow-up agreement.

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