Mihai Tanasescu, the PSD (Social Democrat Party) vice-president and former Finance Minister in the Adrian Nastase Government, has decided to leave the tumultuous political life of Romania and take up the position of Romania's representative to the International Monetary Fund (IMF).
He will go to Washington, a city he first visited in 1986, when he attended a public finance-training course held at the IMF headquarters.
The IMF appointment is conducted by the National Bank, and his nomination comes as somewhat of a surprise, considering that every IMF Romanian representative appointed since 1990 has been an NBR employee.
Tanasescu will replace Lucian Croitoru, a former advisor to the NBR Governor, whose term expires at the end of June.
Tanasescu (51) is one of the most credible PSD members and the coordinator of the economic programme for the main opposition party. According to PSD sources, Tanasescu is preparing to announce his resignation from the party at the end of the week, so he could leave for Washington as soon as next week, where the IMF headquarters are located.
"I will leave (for Washington i.e.) next week," Mihai Tanasescu verified for ZF. He added it was NBR Governor Mugur Isarescu who initially approached him with the proposition for this position five or six months ago.
The reason behind this proposition was, Tanasescu said, to change Romania's image at the IMF. He also knows this institution well and is a familiar face there.
As far as his resignation from the PSD is concerned, he did not provide any details, only saying that he would research to see if the new position and his party membership were incompatible in any way. He would not provide any further details.
Tanasescu is currently PSD's vice-president, a deputy for the party and the chairman of the Budget-Finance Committee with the Chamber of Deputies.
The PSD has remained silent concerning Tanasescu's departure, because it might be interpreted as "desertion", as the party is presently going through a rough time after last week's defeat in the referendum on the dismissal of President Traian Basescu.
The official position Tanasescu will hold is advisor to the IMF executive director, as Romania's representative to the International Monetary Fund. Such a position carries a great deal of credibility in the financial world.
According to sources on the financial market, the salary package (salary plus other perks) for such a position ranges between 15,000-25,000 dollars a month, paid by the IMF, because this position entails employment by the Fund.
An IMF term usually lasts for two years, but can be extended - for instance, Lucian Croitoru spent more than three years in Washington.
Tanasescu is familiar with the city where he will spend the next few years. Before being Finance Minister (2000-2004), he was Romania's representative to the World Bank (1997-2000), before enrolling in the PSD.
He has known the US capital for a much longer period. Tanasescu first spent time in Washington in 1986, when he attended a public finance-training course (at the IMF headquarters), also returning in 1996 for a macroeconomic policies training course.
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