Press Release No. 10/124

Press Release: Statement by IMF Managing Director Dominique Strauss-Kahn at the Conclusion of his Visit to Romania

March 30, 2010

Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), issued the following statement today in Bucharest at the conclusion of his visit to Romania:

“It was a great pleasure for me to visit Romania and have the opportunity to discuss the country’s economic progress with a broad range of people here–from government leaders to parliamentarians to academics and students. The IMF has long been a friend and partner of Romania, including during the recent financial crisis when we offered significant financial support. We look forward to our continued collaboration in the future.

“I met today with President Traian Basescu, Prime Minister Emil Boc, Minister of Public Finance Sebastian Vladescu, and Central Bank Governor Mugur Isarescu. We had substantive discussions about recent economic developments and Romania’s economic performance under the Stand-By Arrangement with the IMF. We agreed that full implementation of the economic program will be essential to ensuring long-term growth, increasing employment, and rising living standards.

“In the wake of the crisis, Romania has faced a difficult set of policy challenges. With growth projected to turn positive again this year, it is essential that the bold adjustment program that has been undertaken should be maintained. A major challenge in particular will be to continue reforming the public sector, including state-owned enterprises, to become more efficient.

“During my visit, I welcomed the opportunity to address Parliament and appreciated the discussion with parliamentary leaders beforehand. I also enjoyed the discussion with students at the Academy of Economic Studies and commend them for their probing questions and keen interest in global economic affairs and development.

“I wish to thank the city of Bucharest and the Romanian people for their warm hospitality.”