Romania’s Govt Asks IMF To Extend Pension Bill Adoption Deadline

According to the sources, the Executive explained that the bill cannot be adopted by mid-September as the Parliament’s recess ends at the beginning of the month and lawmakers would not have enough time to carry out debates on the draft law.

The unitary pension bill was approved by the Government early this year and was forwarded to Parliament for adoption. The bill is currently pending debates in the Chamber of Deputies after it was adopted in the Senate.

IMF representatives Tuesday morning met with Prime Minister Emil Boc and talks with opposition parties have also been scheduled.

Romania and the IMF agreed last spring on a EUR13 billion loan, as part of a larger EUR20 billion aid package that includes funds from the European Commission, the World Bank and other international lenders. IMF and EC officials will be in Bucharest until August 4 to review Romania’s economic progress, and the IMF will decide whether to disburse a sixth loan installment to the country, worth over EUR900 million.