imf

Romanian Unionists Told IMF They Oppose 20% Staff Cut In Public Sector

13:35, 04 Aug. 2009
Romanian unionists told the International Monetary Fund (IMF) in a meeting on Tuesday that they disagree with a 20% staff cut in the public sector and that the issue should be analyzed in order to maintain the quality of services.

IMF Proposed Later Adoption Of Romania’s Public Sector Unitary Pay Law – Unions

13:25, 04 Aug. 2009
The International Monetary Fund on Tuesday proposed, in a meeting with Romanian unions, that the government should push back the adoption of the single unitary pay law for the public sector to allow for a through assessment of the future pay system.

Romania Won’t Meet Targets Agreed With IMF – President

19:38, 30 Iul. 2009
President Traian Basescu Thursday said Romania cannot fulfill the targets agreed with the International Monetary Fund for 2009, as the economy contraction would be larger than projected.

IMF „Flexible” In Negotiations With Romania On Wider Budget Def – Mission Head

13:24, 30 Iul. 2009
The International Monetary Fund will be "flexible" in negotiating with Romania a wider target for the 2009 budget deficit as macroeconomic indicators worsened, but an exact figure cannot be announced yet, said Thursday Jeffrey Franks, head of the IMF mission in Romania.

Romanian Govt Asks IMF For Budget Def Target Hike

10:54, 30 Iul. 2009
The Romanian government asked the International Monetary Fund to hike the budget deficit target for 2009 and tax exemption for the reinvested profit as economy continues to fall, and IMF officials had a "flexible" attitude regarding the deficit, as long as it is kept within sustainable limits.

Romanian Govt Ratified Stand-By Agreement With IMF Before Meeting Fund’s Mission

20:39, 29 Iul. 2009
The Romanian Government on Wednesday ratified the stand-by agreement with the International Monetary Fund before the meeting with the IMF mission to Bucharest, by a law draft that will be sent to the Parliament for adoption.

IMF Mission Meets Romanian Ctrl Bk Governor Wednesday

16:39, 29 Iul. 2009
The International Monetary Fund mission in Romanian will meet Wednesday the central bank governor Mugur Isarescu and, later in the day, the group of ministers nominated to negotiate with the institution, governmental sources told MEDIAFAX.

IMF, Romania To Discuss Program Review After Sept 15

14:35, 27 Iul. 2009
The International Monetary Fund’s Executive Board will most likely discuss the report that reviews Romania's economic program supported by the institution in the second half of September, IMF said in a press release Monday.

Romanian Social Democrats Ask Ruling Partners To Explain Use Of IMF Loan

15:32, 26 Iul. 2009
Romania’s Social Democratic Party asked the finance minister and the Democrat Liberal Party to explain how the first EUR5 billion of the IMF loan and the tranches from the EU and the European banks have been used, what their results are and what it plans for the next EUR2 billion tranche.

Romania Received First EC Loan Tranche Worth EUR1.5B – State Secretary

09:51, 25 Iul. 2009
Romania received the first part worth EUR1.5 billion of the loan from the European Commission, state secretary within Romania’s Finance Ministry, Gheorghe Gherghina told MEDIAFAX.

Pension Law In Romania To Adjust Retirement Age, As Stipulated By IMF Agreement

14:39, 24 Iul. 2009
The new pension law will observe the stipulations of the agreement Romania signed with the International Monetary Fund and the European Commission on increasing the retirement period particularly for women and adjusting it at 65 years-old after 2014, Government officials said Friday.

Romanian Govt To Consult With IMF On Unitary Pay Law Before Completing Draft

13:32, 23 Iul. 2009
The Romanian government will consult with the International Monetary Fund starting next week on the structure and application of the unitary pay law in the public sector and will then complete the draft law, government sources told MEDIAFAX Thursday.

Romania To Urge IMF, EC To Double State Guarantee Cap – PM

16:44, 18 Iul. 2009
Romania will urge the International Monetary Fund (IMF) and the European Commission (EC) to double the state guarantee ceiling, currently set at EUR1.4 billion, in order to extend the mechanism in agriculture and at the level of local administration, Prime Minister Emil Boc said Saturday.

Romania Does Not Plan To Ask IMF To Hike Loan – PM

13:51, 10 Iul. 2009
Romania's Government does not plan to ask the International Monetary Fund to increase the loan or to amend the macroeconomic indicators agreed in spring, and the first half indicators will be analyzed as of July 20 when official data is available, Prime Minister Emil Boc said Friday.

Romania Mulls Widening Budget Def To 5.5% of GDP From 4.6% To Fund Infrastructure

15:52, 05 Iul. 2009
Romania will ask the International Monetary Fund to allow it to widen its budget deficit target to 5.5% of gross domestic product from the 4.6% of GDP set in the country’s stand-by loan agreement, people close to the negotiations told MEDIAFAX Sunday.

IMF: Romanian Govt Undertook To Revise Pension Laws Until Dec 31

10:55, 11 Iun. 2009
The Romanian Government undertook to revise pension laws until December 31 through measures meant to index pensions to the inflation, limit the scope for discretionary pension increases and gradually adjust the retirement age, particularly for women, according to the IMF agreement.

Romanian Public Sector Wage Law To Be Amended By October 30 Under IMF Agreement

10:25, 11 Iun. 2009
The Romanian Government has pledged to adopt the public sector unitary wage law by October 30, 2009, leaving at least three years for the gradual implementation of the new law, according to Romania’s stand-by agreement with the IMF, published Wednesday.

Romania To Receive Next IMF Loan Tranches In Sep, Dec

10:22, 11 Iun. 2009
Romania may access the next two tranches of the International Monetary Fund stand-by loan in September and December, respectively, according to the Technical Memorandum of Understanding published Wednesday.

IMF To First Review Romania’s Program On Sep 15

10:20, 11 Iun. 2009
The first review of the performance criteria set under the program agreed by Romania with the International Monetary Fund will be set for September 15, based on end-June targets, according to IMF.

Romania To Inform IMF On Monitored Public Cos

10:20, 11 Iun. 2009
Romania’s Ministry of Finance, Ministry of Labor and other pertinent institutions will provide information to the International Monetary Fund (IMF) on monitored public enterprises, including sanctions and dismissals operated if restructuring targets are not observed.

IMF: Romania’s Capacity To Repay Loan Is Strong, But There Are Risks

10:19, 11 Iun. 2009
Romania’s capacity to repay the EUR12.95 billion loan from the International Monetary Fund is expected to be strong, but it depends upon the authorities' commitment to the program and their success in rebalancing the economy, the IMF said late Wednesday.

Romanian Auth To Seek Accord With Bks On Foreign Currency Loans Restructuring

10:18, 11 Iun. 2009
Romanian authorities plan to reach an agreement with commercial banks to facilitate the restructuring of household loans contracted in foreign currency by adjusting the maturity and repayment schedule, including offering the option to voluntarily convert it in Romanian lei.

IMF Imposes Romania Performance Criterion On Budget Deficit

10:17, 11 Iun. 2009
Romania negotiated with the International Monetary Fund a budget deficit target of 24.36 billion lei (EUR1=RON4.1998) in 2009, based on RON166.72 billion revenues, not including EU funds, and RON182.72 billion primary expenditures.

IMF To Publish Agreement With Romania Next Days – Senate Chairman

18:15, 27 Mai 2009
Romanian Upper House Speaker and Social Democratic Party president Mircea Geoana stated Wednesday that the International Monetary Fund would publish the entire text of its agreement with Romania in the next days in Washington.

Romania’s Econ Growth To Remain Negative In Next 2, 3 Q – IMF

13:48, 22 Mai 2009
Romania will continue to register a negative economic growth in the next two-three quarters, recovering at yearend or at the beginning of 2010, Jeffrey Franks, the IMF's mission chief to Romania, stated Friday in Bucharest.

Romania’s Econ To Return To Positive Growth „Only” In 2H ’10 – IMF Official

13:44, 21 Mai 2009
Romania’s economic activity in the next quarters will depend on domestic policies and on global conditions, but the positive growth will resume only in the second half of 2010, said Tonny Lybek, IMF’s representative for Romania and Bulgaria.

Market Sensitive Indicators In The IMF Agreement Won’t Be Published – Romanian Ctrl Bk Gov

19:18, 14 Mai 2009
The market sensitive indicators in Romania's agreement with the International Monetary Fund will not be published, as in all the agreements there are included such indicators that may distort the markets, Romanian central bank governor Mugur Isarescu said Thursday.

EC Loan To Romania To Be Granted In Max 5 Tranches In 3 Yrs

13:16, 08 Mai 2009
The European Commission’s EUR5 billion loan approved for Romania will be assigned in maximum 5 tranches during three years and will be reimbursed in 7 years at most, the European officials periodically verifying if the Romanian authorities respect the assumed engagements.

IMF Releases First Tranche Of EUR12.95B Loan – Romanian Pres

19:56, 05 Mai 2009
Romanian President Traian Basescu said the International Monetary Fund released Tuesday the first tranche of the EUR12.95 billion loan, adding that ECOFIN approved the European Commission loan to Romania, worth of EUR5 billion.

IMF Sees Romanian Salaries Up Along With Inflation In ’09-’11

11:55, 05 Mai 2009
The International Monetary Fund sees Romanian salaries up 5.9% in nominal terms in 2009, up 3.9% in 2010, and up 3.5% in 2011, a growth pace similar with the average consumer price index projected increase.

IMF Sees Romania’s GDP Growth At +5% In ’11, On Local Demand

11:12, 05 Mai 2009
The International Monetary Fund sees Romania’s GDP contracting by 4.1% in 2009, stagnating in 2010, before recovering to a 5% growth in 2011, amid increasing domestic demand.

IMF Loan To Rebuild Investors’ Trust – Romanian Fin Min

08:44, 05 Mai 2009
Romania’s agreement with the International Monetary Fund was approved by all members of the IMF’s Executive Board and will be sent to the Romanian authorities, and one of the loan effects would be rebuilding the investors’ confidence in the economy, Finance Minister Gheorghe Pogea said.

Romanian Fin Min, Ctrl Bk Gov Sign Letter On IMF Loan

16:04, 23 Apr. 2009
The letter of intent on closing the loan agreement with the International Monetary Fund was signed by the Romanian finance minister Gheorghe Pogea and by the central bank governor Mugur Isarescu, Premier Emil Boc said Thursday.

Romania Receives Letter Approving IMF Loan

11:07, 23 Apr. 2009
The International Monetary Fund sent Wednesday evening the letter approving Romania’s foreign loan request, finance minister Gheorghe Pogea told MEDIAFAX early Thursday.

IMF Sees Romanian GDP Growth At -4.1% In ‘09, 0% In ‘10

17:51, 22 Apr. 2009
The International Monetary Fund official forecasts on Romania see the gross domestic product contracting by 4.1% in 2009, the current account deficit narrowing at 7.5% of the GDP and the inflation at 5.9% at the end of the year, according to the fund's latest World Economic Outlook.

Romanian Fin Min: Govt Negotiated With IMF To Keep Flat Tax, VAT Unchanged

15:22, 14 Apr. 2009
The measures negotiated by the Romanian Government with the International Monetary Fund allowed the keeping of the main taxes at their current level, Finance Minister Gheorghe Pogea said Tuesday.

Romanian Govt OKs Budget Revision, Lump Sum Tax And Wage Bonus Cap

14:12, 11 Apr. 2009
Romanian government on Saturday approved the first budget revision of the year, the introduction of the lump sum tax, as well as an act limiting salary bonuses in the public sector.

Romania Gets IMF Agreement In Principle On EUR13B Loan – PM

19:55, 09 Apr. 2009
Romanian Government received from the International Monetary Fund the agreement in principle for the EUR12.95 billion stand-by loan, Prime Minister Emil Boc said Thursday.

IMF Wants Romania To Monitor State Subsidized Cos – Econ Min

17:11, 07 Apr. 2009
The International Monetary Fund asked Romania to monitor several companies receiving state subsidies, including coal mining company CNH, national uranium company and the Romanian Authority for Nuclear Activities, from the Economy Ministry’s portfolio, the minister in charge Adriean Videanu said.

IMF Asks Romanian Ctrl Bk To Apply A Minimal 10% Solvency Limit To Bks

15:11, 05 Apr. 2009
The International Monetary Fund asked the Romanian central bank to determine the necessary additional capital for banks, based on stress tests, so that the solvency rate of each institution is maintained above 10%, a level higher by two percentage points than the current bottom limit, of 8%.