Romanian Parliament Ratifies IMF Letter Of Intent Signed In June

Romania’s Senate Tuesday adopted with 55 votes in favor and 49 votes against the draft law ratifying the Government's letter of intent to the stand-by agreement between Romania and the International Monetary Fund (IMF).

6 views

The letter of intent ratified by senators was signed by Romanian authorities in Bucharest on June 16, 2010 and was updated through an additional letter signed on June 29, after the Government decided to hike the value added tax to 24%, from 19%.

The finance and budget committee had rejected the bill last Tuesday and the reason cited by opposition lawmakers was the measure regarding the VAT increase.

The draft act was adopted by the Chamber of Deputies in October and the Senate's vote is decisive.

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.