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Romania Ctrl Bk Gov: New IMF Deal To Ensure Reform Continuity

17:22, 25 Ian. 2011
Romania’s planned follow-up agreement with the International Monetary Fund represents a keystone for the country’s structural reforms and its main objective will be ensuring the continuity of the process, central bank governor Mugur Isarescu said Monday.

Romania’s Follow-Up Deal With IMF May Not Include Bank Exposures – Sources

16:25, 24 Ian. 2011
Romania’s planned follow-up deal with the International Monetary Fund might not include a new agreement with the parent banks of the country’s top largest lenders, as the mother banks are maintaining their exposure at sufficiently high levels, people familiar with the negotiations said Monday.

Romania Follow-Up Deal With IMF To Focus On Money-Losing Cos – Sources

14:25, 24 Ian. 2011
Romania’s follow-up agreement with the International Monetary Fund will comprise several key requirements meant to rein in the budget deficit and boost the economy, including a better management of the large state-run companies, people close to the negotiations said Monday.

Romania To Pay Some EUR300M In IMF Loan Interest This Year

17:47, 14 Ian. 2011
Romania will pay the International Monetary Fund interest worth SDR266 million (EUR300 million), for the loan installments transferred this year.

Romania Should Watch Over Small, Low-Provisioned Banks – IMF

16:35, 12 Ian. 2011
Romanian authorities should “maintain vigilance” over small banks, which are faced with a rapidly deteriorating loan quality and whose provisions are below the system average, the International Monetary Fund said in an analysis.

Food, Energy Prices Pose Risks On Romania’s 2011 Inflation – IMF

16:25, 12 Ian. 2011
The International Monetary Fund sees significant upside risks to Romania's 2011 inflation outlook coming from potentially higher food and energy prices and a weakening of the leu, according to the fund's report after the sixth review of the stand-by arrangement.

IMF Board OKs Romania’s Request For New Waiver On Govt Arrears

11:59, 08 Ian. 2011
The International Monetary Fund Board approved Romania’s request for a new waiver of non-observance in the government arrears sector for end-December, the IMF said in a press release.

IMF Board OKs Disbursement Of EUR0.9B To Romania

20:28, 07 Ian. 2011
The International Monetary Fund Board approved Friday the release of the seventh disbursement of a stand-by loan to Romania, worth EUR900 million, and the money is to enter the Romanian central bank’s accounts most likely on Monday.

Romania, IMF Eye EUR3.6B Precautionary Deal – Sources

16:41, 06 Ian. 2011
The International Monetary Fund will make available for Romania EUR3.6 billion in a new, precautionary deal that will be signed after the current stand-by agreement expires in April, people close to the talks told MEDIAFAX.

Romanian High Officials Set Parameters Of New IMF Deal

14:14, 06 Ian. 2011
Romanian President Traian Basescu, Prime Minister Emil Boc, central bank governor Mugur Isarescu, Finance Minister Gheorghe Ialomitianu on Thursday set the parameters of a new, precautionary agreement with the International Monetary Fund and the European Union, the central bank said in a statement.

Romania ’10 Budget Deficit At 6.6% Of GDP, Below IMF-Imposed Target – Sources

18:00, 04 Ian. 2011
Romania’s government sent a letter to the International Monetary Fund saying the country has met all requirements for a new tranche out of the EUR13 billion stand-by loan, including a budget deficit of 6.6% of the gross domestic product for 2010, people close to the matter told MEDIAFAX.

Romanian Govt Approves IMF Letter, Pledging More Layoffs, Spending Cuts

20:09, 21 Dec. 2010
Romania's Government has pledged to continue layoffs in the public sector in 2011, implement tax cuts only if the economy recovers and lower social security expenses.

Romanian Govt To Approve IMF Letter In Tuesday Meeting

17:31, 21 Dec. 2010
Romania's Government will hold a meeting Tuesday evening to approve the additional letter of intent to the International Monetary Fund, agreed upon following the evaluation mission in October-November.

Romania Contemplates EUR6B Follow-Up Agreement With IMF – Sources

06:23, 21 Dec. 2010
Romanian authorities consider signing a precautionary agreement with the International Monetary Fund worth between EUR5 billion and EUR6 billion, but the exact amount will not be set until March next year, people familiar with the matter said Monday.

Romanian PM Says Govt Has Plan B To Keep IMF Loan On Track

12:48, 17 Dec. 2010
The Government has a plan B to deal with the delays in the adoption of the unitary wage law triggered by the Parliament’s decision to push back debates on a no-confidence motion until late next week, Prime Minister Emil Boc said Thursday.

Talks With IMF On Follow-Up Loan Deal To Begin On January 20 – Romanian PM

15:08, 12 Dec. 2010
Discussions between Romanian authorities and the International Monetary Fund on a potential new loan agreement will begin on January 20, said Prime Minister Emil Boc Sunday on ProTV.

IMF Asks Romanian Govt To Reduce Maternity Leave To One Yr – Sources

13:50, 02 Dec. 2010
The International Monetary Fund asked the Romanian Government to reduce maternity leave to one year and set child-rearing allowance at values ranging between 600 lei (EUR1=RON4.2923) and RON1,000, people close to the matter said Thursday, after a meeting of the country's ruling coalition.

EXCLUSIVE: IMF Ready To Increase Aid To Romania If Need Arises

14:51, 26 Nov. 2010
Romania is unlikely to experience significant spillover from European countries that face difficulties, as the authorities are taking steps to ensure against risks under the form of a new loan agreement with the International Monetary Fund, an IMF official said.

EXCLUSIVE: Romania Takes Significant Steps To Exit Crisis, IMF Says

14:17, 26 Nov. 2010
Romania has taken important steps to reduce its budget deficit and bring the economy back on track, which puts the country in a less riskier position compared with some of the economies in the euro area, said Jeffrey Franks, head of the International Monetary Mission to Bucharest.

IMF Confident Romania Won’t Enact Income Tax Cut

16:21, 24 Nov. 2010
The International Monetary Fund Wednesday expressed concerns over Romanian Senate’s recent vote to lower the income tax rate to 10% from 16%, saying it expects the authorities will ensure the “unfunded” tax cut will not be enacted.

Romanian Parliament Ratifies IMF Letter Of Intent Signed In June

13:35, 23 Nov. 2010
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).

EXCLUSIVE: Romania Unemployment Aid No Longer Tied To Min Wage In 2011

13:24, 19 Nov. 2010
Romania’s Government has committed to the IMF to no longer tie unemployment aid to the minimum wage to avoid having to raise it along with the wage hike planned for 2011, according to the Government’s letter of intent.

Romania, IMF Set 1Q 2011 Budget Deficit Target At RON5.7B

20:03, 17 Nov. 2010
Romania and the International Monetary Fund have agreed on a budget deficit target of 5.7 billion lei (EUR1=RON4.295) for the first quarter of next year, one third lower compared to the same period of 2010.

EXCLUSIVE: Romania Says Tax Cuts Not An Option Unless Economy Recovers

14:51, 17 Nov. 2010
Romania agreed to limit changes to its taxation system over the next period to ensure fiscal stability and said potential tax cuts won’t be considered until the economy grows again, according to the country’s additional letter of intent to a EUR13 billion deal with the International Monetary Fund.

EXCLUSIVE: Romanian Govt Pledges To Reduce In-Hospital Treatment, Drug Markup

14:47, 17 Nov. 2010
Romania's Government plans to limit in-hospital treatment next year to 10% of its 2010 level and reduce the price markup paid for drugs used in treating cancer, diabetes, HIV/AIDS, TBC to 1.5% for retail and 4% for wholesale purchases.

EXCLUSIVE: Romania Says Will Cut More Public Sector Jobs In 2011

14:03, 17 Nov. 2010
Romania's Government pledged to continue layoffs in the public sector in 2011 to meet the terms set under a EUR13 billion loan from the International Monetary Fund, according to the country’s additional letter of intent to the IMF.

Romanian President To Attend Govt Meeting On Wage Law, IMF Agreement, Schengen Accession

11:13, 17 Nov. 2010
Romania’s President Traian Basescu has been invited to attend the Government meeting on Wednesday which will discuss the public sector wage law, the country’s agreement with the International Monetary Fund and Schengen accession.

Romanian Govt, IMF Agree On Minimum Wage Ceiling Of RON670

19:21, 09 Nov. 2010
Romania's Government agreed with the International Monetary Fund and European Commission not to raise the minimum wage by more than the rate of inflation of the last two years, or more than 670 lei (EUR1=RON4.2862), state secretary Gheorghe Gherghina announced Tuesday.

Romanian PM Pledges To Sell Or Reorganize State-Owned Cos

14:53, 01 Nov. 2010
The Romanian Government will continue the privatization or restructuring of state-owned companies, but will keep majority stakes in strong firms such as gas transporter Transgaz (TGN.RO), Prime Minister Emil Boc said Monday after negotiations with the International Monetary Fund.

Romania Must Adopt Public Wage Law, State Budget, Pension Law To Get Loan Tranche – IMF

14:27, 01 Nov. 2010
The public sector wage law, approving the 2011 state budget and pension reform are among the issues cited by the IMF as requiring that the next tranche of the loan be released to Romania in January, a month later than originally scheduled.

Romania, IMF To Discuss Follow-Up Deal In Q1 2011

14:25, 01 Nov. 2010
Romania and the International Monetary Fund will discuss the terms of a possible follow-up loan agreement at the fund’s next review mission to Bucharest in 2011, IMF mission head Jeffrey Franks said Monday.

IMF Sees Positive Q4 GDP Growth In Romania

13:53, 01 Nov. 2010
The International Monetary Fund on Monday estimated Romania economy will return to positive territory in the fourth quarter, followed by a more consistent growth of 1.5% in 2011.

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 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.

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 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.

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 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.

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.