Romania does not run the risk of cashing money from the IMF agreement, Tanasescu deems

The economist declared for the Money Channel that in 2012 the main financing sources will be the economic growth, an increase in European funds and a chain swap mechanism with state companies that owe money to each other and to the state budget.

„Many companies have debts to each other and to the state. The budget releases money on one end of the circuit, the debts annul each other and revenues are obtained. A flow can last for several months and leaks to other areas must be avoided to keep the mechanism efficient”, Tanasescu explained.

Romania’s President Traian Basescu also declared that Romania does not need to use the resources available over the next period, as using the IMF money would not be „a positive sign”, even if the money come „very cheap”.
The Romanian authorities decided to use the IMF agreement signed in March as a preventive one, which means it does not plan to use the 3.6 billion euros available.

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