BUCHAREST (Reuters) – The International Monetary Fund said on Tuesday it will postpone sending a review of Romania’s new standby aid agreement to its executive board for approval after the country’s president refused to ratify it because of tax hikes.
“We are aware of President Traian Basescu’s disagreement with the government over the specific measures to be used to reach this (budget deficit) target, the IMF said.
“Staff is monitoring developments and is awaiting a decision by the authorities on whether they wish to modify the policies needed to secure the agreed deficit target, before submitting the policy package to the Fund’s Executive Board.”
(Reporting by Luiza Ilie)
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