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IMF: Romania Should Keep Tax System Stable For Couple Of Years

13:13, 01 Nov. 2010
The International Monetary Fund recommended Romania maintained its tax system broadly unchanged for the next two years to ensure stability in the business and consumption sectors, IMF mission chief Jeffrey Franks said Monday.

IMF Requests Sale Or Liquidation Of Monitored Romanian Cos

13:05, 01 Nov. 2010
Romanian state-owned companies monitored by the International Monetary Fund and the European Commission widened losses in the last months, prompting the financial institutions to recommend their privatization or liquidation, Monday said Jeffrey Franks, chief of the IMF delegation to Romania.

IMF: Romania Should Change Consumer Loan Ordinance

12:53, 01 Nov. 2010
The International Monetary Fund and European Commission officials Monday insisted Romania changed its consumer loan ordinance to better suit lenders and customers alike, but declined to specify whether new aid from a EUR20 billion lifeline depends on the act being modified.

IMF May Release Next Tranche To Romania In January

12:03, 01 Nov. 2010
The International Monetary Fund might disburse the next tranche in January after the Romanian government fulfills the conditions discussed during the sixth review of the EUR13 billion stand-by loan, an IMF official said Monday.

Romanian President Says Govt Found New Ways To Reduce Budget Deficit

19:10, 31 Oct. 2010
Romanian President Traian Basescu said Sunday evening at the beginning of talks with International Monetary Fund, European Commission and World Bank representatives that the Government found new means to reduce the country’s budget deficit.

Romanian Ovidiu Rom Association’s Halloween Charity Ball Raised Over EUR500,000

17:41, 31 Oct. 2010
The sixth edition of the Halloween Charity Ball, held Saturday at the Palace of Parliament in Romania’s capital Bucharest, raised over EUR500,000 and the funds will be used to help 1,200 poor children to attend kindergarten.

Romania’s Negotiations With IMF Come To Deadlock Over Consumer Loan Issues

15:37, 31 Oct. 2010
Romanian authorities' negotiations with the International Monetary Fund came to a deadlock mainly due to problems raised by a Government emergency ordinance regarding consumer loans, and the IMF mission might prolong its assessment visit to Romania, people with direct knowledge of talks told MEDIAFAX Sunday.

Romanian Banks’ 9-Mo Losses At RON474.5M

13:37, 31 Oct. 2010
Romanian banking system losses increased by 240.5 million lei (EUR1=RON4.2664) in the third quarter of the year, to RON474.5 million at the end of September, but most major banks reported profit.

Romanian NCO Injured In Military Drill Dies In Hospital

18:43, 30 Oct. 2010
Romanian noncommissioned officer Gavril Nicorici, 26, died Saturday afternoon after being severely injured during a military drill on a shooting ground in Brasov county, central Romania, the Defense Ministry said in a press release.

Romanian Govt To Compel Local Authorities To Take Over Arrear Payments – Sources

20:58, 29 Oct. 2010
The Romanian Government will compel local authorities starting next year to include arrear payments in their budgets and halt spending until they pay off overdue debts, people close to the matter told MEDIAFAX Friday evening.

IMF: Romania To Ask For New Waiver On Govt Arrears

19:33, 29 Oct. 2010
Romania hasn’t met the end-September performance criteria in the sector of general government arrears and it will ask the International Monetary Fund for a new waiver of non-observance, IMF mission chief Jeffrey Franks said Friday.

Romanian President Proposes Economic Sanctions For Nonobservance Of SGP

18:29, 29 Oct. 2010
Romanian President Traian Basescu told a news conference in Brussels Friday that Romania considers economic sanctions are a more efficient measure against states failing to observe the Stability and Growth Pact (SGP).

Romanian Opposition Parties Submit New No-Confidence Motion In Parliament

16:53, 29 Oct. 2010
Romanian opposition social democrats and liberals on Friday submitted a new no-confidence motion in Parliament against the Government after the latter sought the lawmakers’ vote of confidence to pass the education reform into law.

Romanian President Traian Basescu Invites Parliamentary Parties For Talks Tuesday

16:12, 29 Oct. 2010
Romanian President Traian Basescu invited parliamentary parties for talks on Tuesday, November 2, and the issues to be discussed concern the conclusions of the 2010 fall meeting of the European Council, the future relations with the IMF and the country’s accession to the Schengen area.

Romania Must Cut Arrears To Get New IMF Aid – Sources

14:50, 29 Oct. 2010
The International Monetary Fund is likely to ask Romanian government to pay at least part of its arrears to companies before disbursing a new installment of its EUR13 billion loan, people familiar with the matter said Friday.

Romanian Opp Social Democrat Leader Doubts New No-Confidence Motion To Topple Govt

13:57, 29 Oct. 2010
Romanian Social Democratic Party president Victor Ponta said Friday he does not expect the no-confidence motion opposition liberals and social democrats plan to submit over the education bill will succeed in overthrowing the Cabinet.

Romanian Govt Approves Legal Frame To Set Up National Visa Information System

21:02, 28 Oct. 2010
The Romanian Government Thursday approved the legal frame to set up a national visa information system which will enable the country to connect to the European Union Visa Information System, said Government spokeswoman Ioana Muntean.

Romanian Govt Adopts Decree Allowing Retroactive Contributions To Public Pension System

19:05, 28 Oct. 2010
The Romanian Government Thursday adopted an emergency ordinance whereby people who had not contributed to the public pension system over the past five years will be able to pay contributions retroactively for the said period.

Romanian President Pledges Not To Promulgate Two Controversial Bills

17:24, 28 Oct. 2010
Romanian President Traian Basescu promised International Monetary Fund officials he will not promulgate the bills reducing the value added tax on basic foods to 5% and lifting the income tax off pensions lower than 2,000 lei (EUR1=RON4.2643), people close to the matter told MEDIAFAX Thursday.

EBRD Ups Romania GDP Forecast To -2% In 2010

17:10, 28 Oct. 2010
The European Bank for Reconstruction and Development Thursday revised upward its forecast for Romanian economy to minus 2% in 2010, from a contraction of 3% previously estimated, citing slightly improvements over recent months.

IMF: Consumer Credit Law Could Cost Romania Banks Hundreds Of Millions

17:08, 28 Oct. 2010
Romanian lenders are likely to lose hundreds of millions in euros unless the current version of the consumer credit law is amended so it doesn’t affect older loans, an official of the International Monetary Fund said Thursday.

EP Committee Admits Petitions Against Introducing Mass Media In Romania’s Defense Strategy

15:04, 28 Oct. 2010
The European Parliament’s Petitions Committee has declared admissible the petitions filed by the Romanian Democratic Union Confederation (CSDR) and Romanian Journalists’ Federation MediaSind to have an article picturing mass media as vulnerability eliminated from the country’s Defense Strategy.

Romania Supports NATO Antimissile System, Not Bilateral Defense Agreements – President

14:09, 28 Oct. 2010
Romanian President Traian Basescu said Thursday during an official visit the NATO headquarters in Brussels that Romania will support the creation of a NATO antimissile defense system and not of bilateral antiballistic shield agreements, adding the latter case is not the “right solution”.

Romanian Leu Widens Gains Vs Euro, Exch Rate At 4.2643

13:37, 28 Oct. 2010
Romania’s leu extended early gains versus the euro in mid trade Thursday, after the Government survived a no-confidence vote in Parliament a day earlier, and the central bank’s reference strengthened over 0.4% on the day to 4.2643 units.

Romanian Liberals Prepare To Submit New No-Confidence Motion

13:06, 28 Oct. 2010
Romania’s opposition liberals have started collecting signatures Thursday to submit a new no-confidence motion and prevent the Cabinet from passing the education reform into law bypassing Parliament.

IMF: Romania To Exit Recession In 2011

12:46, 28 Oct. 2010
Romania will return to economic growth in 2011, most likely of around 1.5%, officials of the International Monetary Fund said Thursday, following media estimations that the country would remain mired in recession for the third consecutive year.

Romanian Hidroelectrica To Invest EUR18M In Wind Turbines

12:37, 28 Oct. 2010
Romanian hydropower generator Hidroelectrica could invest some EUR18 million in the next years to set up wind turbines on its hydropower plants along the river Siret, company operational director Dragos Zachia said Thursday.

Romanian Transelectrica Has Tough Time Getting Funds – Director

12:30, 28 Oct. 2010
Romanian state-owned power grid operator Transelectrica (TEL.RO) is having a tough time securing financing, thus it can only cover a minimum level of investment, company official Dan Preotescu said Thursday.

Romania To Send 66 Gendarmes To Afghanistan

12:27, 28 Oct. 2010
Romania will send 66 gendarmes to Afghanistan soon to help the country’s institutional reconstruction, President Traian Basescu said Thursday at the NATO headquarters in Brussels.

Romanian Opposition MPs Walk Out In Protest As Govt Seeks Conf Vote On Education Bill

11:51, 28 Oct. 2010
Romania’s opposition lawmakers walked out in protest soon after the start of a plenary meeting during which the Government is seeking a confidence vote to pass a bill reforming the country’s education system.

Romanian Parliament Denies Opposition’s Bid To Put Off Education Bill Adoption

11:18, 28 Oct. 2010
The standing offices of Romania’s Parliament denied Thursday the opposition’s bid to postpone the Government’s seeking a confidence vote to adopt the education bill bypassing parliamentary procedure.

Romania Industry Seen Up In Q4, Constr, Retail To Fall

10:50, 28 Oct. 2010
Romanian managers said they expect a slight growth in industry, a relative stability in the services sector, and decreases in the retail and construction sectors, according to the business outlook for October-December released by the National Statistics Institute.

Romanian Govt Seeks Confidence Vote To Pass Education Reform

10:44, 28 Oct. 2010
Romania’s Prime Minister Emil Boc, whose Government survived a no-confidence vote Wednesday, arrived in Parliament Thursday to seek a new confidence vote to pass the education bill.

Romanian Opp Liberals To Ask Parliament To Put Off Govt’s Confidence Vote On Education Bill

20:19, 27 Oct. 2010
The Romanian opposition Liberal Party will ask the Parliament’s standing offices to postpone by one week the confidence vote the Government will seek in Parliament to pass the country’s education bill, liberal leader Crin Antonescu said Wednesday.

Romanian Unionists Threaten Full-Blown Strike To Topple Govt

19:01, 27 Oct. 2010
Romanian unionists ended protests in capital Bucharest Wednesday, after having learnt the Government survived the opposition’s no-confidence motion in Parliament, and threatened to go on full-blown strike to have the Government ousted.

IMF Rejects Romanian Minimum Wage Raise To Over RON650

16:48, 27 Oct. 2010
The International Monetary Fund told the Romanian Government it disagrees with increasing the minimum wage in 2011 to over 650 lei (EUR1=RON4.2819), people with direct knowledge of talks told MEDIAFAX Wednesday.

Romania Ctrl Bk: High Borrowing Costs Reflect Inconsistent Economic Policies

16:40, 27 Oct. 2010
Romania pays high interests to borrow from international markets because of inconsistent economic policies and of the negative image sent abroad, central bank governor Mugur Isarescu said Wednesday.

Bon Jovi To Perform In Bucharest On July 10, 2011

15:46, 27 Oct. 2010
American hard rock band Bon Jovi will hold a concert in Bucharest on July 10, 2011, according to the band’s official site, bonjovi.com.

IMF Asks Romanian Banks To Assess Impact Of Consumer Loan Law – Sources

15:26, 27 Oct. 2010
The International Monetary Fund and Romania’s central bank have requested local lenders to send data on potential losses following the introduction of a government approved ordinance on consumer loans, people familiar with the matter told MEDIAFAX Wednesday.

Diamond Necklace, Madonna’s Shoes To Be Auctioned Off At Romanian Halloween Charity Ball

15:09, 27 Oct. 2010
A diamond necklace worth EUR24,000 and a pair of shoes donated by Madonna will be auctioned off at the sixth edition of the Halloween Charity Ball that will take place on October 30 in Romania’s capital city Bucharest, organizers told MEDIAFAX.