Economy Minister, Tudose: We want a concrete cooperation with the IMF

Economy Minister Mihai Tudose, has met on Thursday with the International Monetary Fund (IMF) delegation headed by Reza Baqir, ministry’s priorities, Sovereign Development and Investment Fund (FSDI), as well as corporate governance principles implementation, being on the agenda, a press release informs.

In this context, Mihai Tudose stated that the works for FSDI establisment are advancing rapidly.

“Today (ed. note March 9) PM Grindeanu starts talks with the European Commission officials to establish from the outset a common framework and we want also a concrete cooperation with the IMF, so that we can draw inspiration from your experience in Fund’s structuring,” Economy Minister stated.

He also pointed out that FSDI, pillar project, will act as a tool through which investment programs will be funded in areas such as infrastructure, energy, agriculture, health and any other competitive sectors.

“These will bring a multiplier effect in the economy and an increase in companies’ performance and efficiency, with real positive impact on society,” Tudose also noted.

IMF representatives appreciated that the principles on which Fund’s design is build are based on professional management, a high degree of transparency of its activities, projects’ selection and prioritization, recommending a coordination between investment projects made by the state, so that there is no duplication of funding and to avoid fiscal risks.

Regarding the implementation of the corporate governance at public enterprises, Minister Tudose highlighted that this process has already been started at the companies in the ministry portfolio. The target this year is this process to be completed for all companies except defense industry.

IMF delegation is in Romania for annual consultations on economic and financial developments in Romania.