Vlădescu: We'd better seal a precautionary agreement with China rather than IMF
Romania should consider a 3-4bn-euro precautionary arrangement,
which it should seal with China, the financial powerhouse of the
moment, and which should be focused on investment projects, and not
on reform programmes like in the case of the agreement with the
IMF, maintains Sebastian Vlădescu, former finance minister.
"If nothing dramatic happens in the euro zone, Romania can easily
borrow from the market, it no longer needs money from the IMF.
Major adjustments have been done, now we should start building, and
opening a relationship with China at a governmental level could be
of great help to us. This should be an action direction for
Romania's political and economic diplomacy".
He believes an agreement could be negotiated through which, in case
of need, China should buy Romanian bonds worth 3-4bn euros, and a
series of infrastructure projects such as Transportation Corridor
IX that should cross Moldova toward the south of the country or
Bucharest's complete orbital road should be accomplished with
Chinese companies.
As regards the relationship with the IMF, Romania should fight for
a flexible line of credit, and not for a precautionary
arrangement.