Romanian president says new IMF deal should be discussed in October

Romanian president Traian Basescu said today the country should reconsider its loan agreement with the International Monetary Fund in October. During a meeting with IMF mission chief to Romania on Monday, Traian Basescu said the two sides should assess in October whether Romania should extend the current agreement with the Fund or sign a precautionary agreement.

In July, Basescu said Romania needs a new accord with the IMF. But he said he would prefer a precautionary agreement, which would allow the country to access funds only if it faces a critical situation.