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Vlădescu: We'd better seal a precautionary agreement with China rather than IMF

Autor: Voican Razvan

4 ian 2011 34

Romania should consider a 3-4bn-euro precautionary arrangement,which it should seal with China, the financial powerhouse of themoment, and which should be focused on investment projects, and noton reform programmes like in the case of the agreement with theIMF, maintains Sebastian Vlădescu, former finance minister.
"If nothing dramatic happens in the euro zone, Romania can easilyborrow from the market, it no longer needs money from the IMF.Major adjustments have been done, now we should start building, andopening a relationship with China at a governmental level could beof great help to us. This should be an action direction forRomania's political and economic diplomacy".
He believes an agreement could be negotiated through which, in caseof need, China should buy Romanian bonds worth 3-4bn euros, and aseries of infrastructure projects such as Transportation CorridorIX that should cross Moldova toward the south of the country orBucharest's complete orbital road should be accomplished withChinese companies.
As regards the relationship with the IMF, Romania should fight fora flexible line of credit, and not for a precautionaryarrangement.

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