In a research note on Romania released on Wednesday, Moody’s agency said “economy seems relatively detached from the political noise and IMF/EU could remain tolerant of the country’s slow rate of progress on key reforms until after the elections”.

“But as we move into 2010, IMF and EU may put pressure on the government to reaffirm its commitments to run the reforms under the agreement. A failure in reinvigorating the reform process could lead to frictions with the international partners”, said Moody’s.

Moody’s is the sole service that kept Romania’s country ratings in the investment grade camp. Moody’s has a ‘Baa3’ rating on Romania, outlook stable. S&P and Fitch S&P and Fitch cut Romania to “junk” status in fall last year.