On Friday, Ponta announced that Romania would likely miss some of the deadlines imposed for the privatization of key state-run companies, saying his political row with Basescu was taking up almost all the government’s time.
“This is anything but good news for the leu. It remains to be seen whether the IMF will show understanding for the political disagreements ahead of the elections to be held this year,” Commerzbank analyst Thu Lan Nguyen said in a short comment sent to Mediafax.
The German bank said IMF’s continued support remains “essential” for the leu, as suggested by the strong depreciation of the national currency following a government collapse in April.
“If the IMF continues to support the country though, EUR-RON is likely to remain in the area below 4.48,” Commerzbank noted.
Monday, the leu traded near 4.465 per euro.