IMF has helped us communicate, says BNR Governor

IMF has helped us communicate, says BNR Governor

The greatest benefit obtained by Romania in relation with the International Monetary Fund (IMF) is the fact that the institution has assumed the role of coordinating economic policies, the National Bank of Romania (BNR) Governor Mugur Isarescu said on Wednesday when referring to the need for a properly dosed economic policy, in a context in which structural reforms continue to be delayed.

In his opinion, structural reforms are still the most delayed, and attempting to counter the effects of these delays with fiscal or monetary levers may lead to even bigger problems.

“Structural reforms are the most delayed. Stepping on fiscal or monetary levers is in vain. From a certain point, it is like taking a medicine excessively to offset another one. No! If the dosage is not good, you end up with another intoxication or something worse,” Isarescu explained. More…