“My recommendation is that we sign a new agreement, because the last one has proved beneficial. We were able to borrow cheaper, even if we haven’t drawn under the agreement,” Isarescu told reporters after a monetary policy meeting.
A new deal with the IMF would also add to Romania’s credibility, the central bank’s chief said.
The IMF’s board last week announced Romania has successfully concluded its second loan program with the international institution, making an additional amount of EUR520.7 million available for disbursement.
Romania and the IMF have signed a two-year EUR3.6 billion loan agreement in 2011, following the completion of a larger EUR13 billion deal secured in 2009. The agreement was supplemented by a EUR1.4 billion loan from the European Union and another EUR1 billion from the World Bank.
The authorities in Bucharest have not drawn any funds under the second international program.