Romanian Social Democrat Ministers To Meet With IMF Officials Monday

The delegation includes deputy prime minister Dan Nica, who is also interior minister, labor minister Marian Sarbu, SME minister Constantin Nita and health minister Ion Bazac.

The IMF delegation meets Monday at noon with representatives of Romanian unions.

The IMF mission ends its visit to Romania on March 25.

The financial support package Romania and the International Monetary Fund are negotiating will not trigger lower basic salaries and pensions, government sources told MEDIAFAX Sunday.

“The measures, including spending cuts and increased budget revenues, based on the government’s already announced policy, will be applied on a sliding scale stretching between 3 to 6 years, within a strategic plan with clear measures for a gradual adjustment of the economy,” the mentioned sources said at the end of talks between Prime Minister Emil Boc and Romanian ministers.

The government will not take measures to cut basic salaries and pensions, like in Latvia and Hungary following similar loan agreements with the IMF and the European Commission, nor will it intervene in the measures aimed to protect low-income families.

“Basic salaries, however, do not include bonuses and part of them will be eliminated,” the mentioned sources said.

Romania might get EUR4 billion from the European Commission’s bailout fund, as part of the EUR19 billion financial package discussed with the EU and the International Monetary Fund, government sources told MEDIAFAX on Friday.

The amount could come from EU fund for balance of payments support to members outside the euro-zone, the sources said.

The IMF will put in EUR13 billion, or 12 billion Special Drawing Rights (SDR). The European Investment Bank and the World Bank will supply each EUR1 billion, the sources added.