BUCHAREST: Romania should continue to have some sort of aid agreement with the International Monetary Fund and the European Commission, as this is key to continuing economic reforms, Central Bank Governor Mugur Isarescu said on Wednesday.

Romania has a standby aid deal with the IMF that expires in September and it is unclear whether it will be renewed.

Romania has defied the lenders with a programme of sweeping tax cuts, despite warnings that these would push up the fiscal deficit.

Copyright Reuters, 2015