Romania’s PM Wants Govt Guarantee Increase To Co-Finance EU Projects

Romania’s Prime Minister Emil Boc met Saturday with the representatives of the International Monetary Fund, the European Commission and the World Bank and held talks on the possibility of increasing government guarantees to co-finance local administration European projects.

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Boc and Finance Minister Sebastian Vladescu met with the representatives of the three institutions to assess the country's economic performance.

The prime minister said that increasing the ceiling of government guarantees would help the absorption of European funds to co-finance local administration projects and projects of other institutions managing European funds.

Boc also said that the fiscal liability law and the pension law represent the Government's priorities, as set in the agreement signed with the IMF and the EC.

An IMF mission is in Romania between January 20 and January 27 to assess the country's economic performance in view of disbursing additional EUR2.3 billion from its loan.

Romania and the IMF signed last spring a EUR12.95 billion two-year arrangement as part of a wider EUR19.95 billion aid package which includes funds from the EU, the World Bank and other international lenders.

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