EXCLUSIVE: Finance Ministry To Check Financial Indicators Of All State-Owned Cos

The document, obtained by MEDIAFAX, states that autonomous institutions subordinated to local authorities will also send their key financial and operational indicators to the Finance Ministry, quarterly.

IMF mission head Jeffrey Franks told a news conference Tuesday losses and arrears of state-owned companies are covered using taxpayer money and these companies will stop dragging down the economy when the issue of loss-incurring state companies is solved.

The IMF will extend the list of monitored state-owned companies to include state airliner Tarom, the national postal company Posta Romana, chemical fertilizer producer Oltchim (OLT.RO), mining company SNLO, as well as power supplier Electrica Transilvania Nord.

The ten companies currently under IMF surveillance are Romania's largest budget debtor CNH, alongside Termoelectrica, CFR SA, CFR Calatori, CNADNR, Metrorex, CFR Marfa, Electrificare CFR, Electrocentrale Bucuresti and the National Landscaping Company, or ANIF.

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