The loan agreements signed with the IMF and the European Union have strengthened Romania’s credibility abroad, but relying on outside help for too long would hurt the country’s image, Isarescu told a banking seminar.
“If you let things drag on for too long then the message wouldn’t be positive anymore,” he said.
In March last year, Romania and the IMF have signed a EUR3.6 billion agreement, successor to a EUR20 billion IMF-led financial package arranged in 2009.
The new agreement also includes EUR1.4 billion from the EU and EUR400 million from the World Bank. However, the authorities in Bucharest decided to treat the new loan as precautionary and didn’t draw any funds so far.