Romania 'will pay its external debts'

Mugur Isărescu, the National Bank of Romania (NBR) governor, said that Romania is not standing the risk to become unable to pay its debts.

'The external payments of Romania are not made by the IMF, let alone by the director of the Monetary Fund. The payments are made by the Romanian Government and the National Bank.

As governor of NBR, I assert that there is no danger for the external payments of Romania to be blocked', Mugur Isărescu stated.

He mentioned that he had read carefully Dominique Strauss-Kahn’s statements, the IMF headman, and he had noticed that the latter was referring to the budget adjustments problems, to the reduction of budgetary expenses and to the fact that if these budgetary adjustments are not accomplished, there might be risks to block the payments.

'Romania is also listed, not through the first on the list, but among the last', Isărescu explained.

Dominique Strauss-Kahn, the general manager of the IMF, stated in an interview given on Wednesday to the TSR, the Swiss television station, that no European country is risking bankruptcy, but there are vulnerable countries like Greece, Ireland, Latvia, Hungary, Romania, where tougher politics should be implemented.

The general manager of the IMF also said that he does not believe in the bankruptcy of these states because the European countries will act with solidarity.

'I think solidarity that exists between European countries will avoid this situation and there is no danger of bankruptcy, instead this implies pretty though politics', the general manager of IMF also said.

Translated by Lidia Enăsoiu and Andreea Velicu
MA Students, MTTLC, Bucharest University