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Monday, January 17, 2005

Romania stays with IMF for two more years

M. Calin Popescu Tariceanu, Prime Minister of Romania, announced recently on Realitatea TV that Romania is to stay close to IMF for two more years.

During this period, Romania is to follow IMF suggestions for managing the reform process and IMF will back up Romania for this period. One of the things that are agreed between Romania and IMF is the economical growth of 5 - 5.5 percents / year.

I notice a tendencies lately against IMF...all countries want to be managed by their own and it seems that (1) IMF policies are not very much adapted to each countries case, being more like templates that IMF suggests to their "clients" and (2) even though they are going through a bad period, countries want to be managed by their own and not feel an external intrusion in their affairs.

Also, some of IMF Failures have fueld this feeling. Let's remember that IMF had some pretty bad results in Mexico, Nicaraua, Argentina, Brazil, Russia and more. IMF also admitted having some failures, but I wonder if an organization like IMF can be so flexible in order to shift its views and prevent other failures from hapenning.

Posted by Mihai : 1/17/2005 01:47:00 pm