The international financial institutions are not simple ATMs, as the Bucharest authorities consider. Of course, as long as you have a share in the capital of these institutions, you have the right to loan money. In case of IMF, the money you lend “buys” you the time you need to eliminate the causes of your own inefficiency, that brought you in the dangerous situation of exporting your problems. The money you lend from IBRD are for financing certain development programs and the important thing is not the “budgetary support” (the oxygen baloon, “cash” for the budget) as the Romanian authorities continue to believe, but the achievement of the objectives set in those projects. A new agreement with the IMF cannot mean a success of the previous agreement. Indeed, after two years there were realised severe, remarcable adjustments (may we consider only the reduction of the budgetary deficit and the reduction of the external payments balance current account deficit) but the structural reforms have not taken place. The new IMF agreement, regardless of the way we are trying to present it, is nothing more than the recognition of the authorities’ failure in solving the problems that existed even before the previous agreement. Only the external climate has ameliorated. But this cannot be explained by the performance of Romanian government. The transformations of the Romanian economy are slow and the authorities’ approaches in order to solve the problems are less credible.