imf

IMF Imposes Quarterly Performance Criteria For Romanian Budget – Sources

14:11, 05 Apr. 2009
The budget deficit negotiated by Romania with the IMF is set for this year at RON24.36 billion, with quarterly targets, set considering annual budget revenues, without external non-reimbursable sums, of RON166.72 billion and primary spending of RON182.72 billion.

IMF To Reply To Romania’s Letter Of Intent Next Wk – Sources

18:45, 01 Apr. 2009
The International Monetary Fund informed the Government it will send early next week a reply to Romania's letter of intent on closing a financing agreement, sources close to the matter told MEDIAFAX Wednesday.

Romania’s Agreeement With IMF Only To Finance Budget Deficit – Ex-Fin Min

18:32, 01 Apr. 2009
The agreement Romania closed with the International Monetary Fund IMF aims just at borrowing funds to cover the country’s budget deficit, as the private companies does not face debt payment issues, the president of Senate's Economy Commission, Varujan Vosganian, said Wednesday.

IMF To Reply To Romania’s Letter Of Intent Next Wk – Sources

15:41, 01 Apr. 2009
The International Monetary Fund informed the Government it will send early next week a reply to Romania's letter of intent on closing a financing agreement, sources close to the matter told MEDIAFAX Wednesday.

Romanian PM, Mins To Discuss IMF Loan With Parliament Officials Next Wk

14:36, 01 Apr. 2009
Romanian Prime Minister Emil Boc and part of the ministers will discuss next week the agreement with the International Monetary Fund, with the two Parliament Chambers' Standing Offices and the Budget-Finance Commissions.

Romanian Govt, Ruling Coalition OK IMF Agreement –Premier

10:41, 01 Apr. 2009
All the member of the Romanian Government and of the ruling coalition accepted the agreement concluded with International Monetary Fund IMF, without anybody opposing it, Premier Emil Boc said Tuesday in a TV show.

Romanian Pres Assumes IMF Agreement, Alongside Govt, Ctrl Bk

17:51, 31 Mart. 2009
Romanian President Traian Basescu said Tuesday he assumes, together with the government and the central bank, the agreement with the International Monetary Fund.

Romanian Leu In Danger If Romania Does Not Comply The IMF Agreement – Ctrl Bker

14:02, 31 Mart. 2009
The agreement between Romania and the International Monetary Fund will aid the country’s economic stabilization, but can also be a danger, especially for the leu exchange rate, if the local policies do not respect IMF’s requirements, said Lucian Croitoru, an adviser of the central bank governor.

IMF Urged Romania To Gradually Reduce Salary Fund To 5% Of GDP – Sources

20:12, 29 Mart. 2009
Romania’s public salary fund should be gradually reduced to 5% of gross domestic product, from current 8%, over the next four years, following talks between officials of the International Monetary Fund and the Romanian government, official sources said Sunday.

Foreign Bks To Continue Financing Romanian Branches – IMF

10:16, 27 Mart. 2009
The International Monetary Fund obtained the written agreement of all the nine parent-banks of the main Romanian lenders present at discussions in Vienna Thursday, who committed not to withdraw their capital and to continue to finance Romanian economy.

Nearly 200 Romanian Pensioners Picket Government HQ

10:06, 26 Mart. 2009
Nearly 200 pensioners picket Thursday the headquarters of the Romanian government protesting to the fact that the pension point will no longer be 45% of the gross average wage as of April.

Romanian Govt OKs Letter Of Intent Agreed With IMF

09:50, 26 Mart. 2009
Romanian government approved in a meeting Wednesday the letter of intent for the EUR20 billion external loan from the International Monetary Fund and the European Union, Prime Minister Emil Boc said.

IMF Official: Foreign Loan To Protect Romania Of Crisis’ Worst Effects

19:27, 25 Mart. 2009
Romania’s agreement with the IMF will protect the country’s economy from the worst effects of the worldwide crisis and will put Romania in a position for a strong return to growth as soon as the current difficulties ease, the future IMF Representative in Bucharest, Tonny Lybek, said Wednesday.

Romanian Ctrl Bk Chief To Explain IMF Loan In Parliament Hearing

17:53, 25 Mart. 2009
Romania’s central bank governor Mugur Isarescu will be asked to explain in parliament the reverberations of the IMF loan on local economy during a hearing of the budget and finance committees, democrat liberal Deputy Mircea Toader said Wednesday.

Romania’s Govt May Use Part Of ’09 Additional Budget Revenues As It Likes – IMF

16:09, 25 Mart. 2009
Romania’s Government may spend as it likes part of the additional revenues above the current forecast agreed with the International Monetary Fund, but will have to put aside another part of the money.

IMF To Ask Main Bks Operating In Romania To Keep Funds In The Country

11:42, 25 Mart. 2009
The International Monetary Fund mission to Bucharest will meet Thursday in Vienna the main foreign banks operating in Romania, to ask them to keep funds in the country and for a capital "buffer."

Romania Must Revise Salary, Pension Sys In 2 Yrs – IMF

11:19, 25 Mart. 2009
Romanian government has to revise in two years, with international assistance, the pensions system and salaries in the public sector, as well as the monitoring and control procedures for state-owned companies, Jeffrey Franks, the head of the IMF mission to Romania, said Wednesday.

Romania Agrees EUR12.95B 2-Yr IMF Standby Loan, Total Package At EUR19.95B

10:21, 25 Mart. 2009
Romania agreed Wednesday with the International Monetary Fund an economic program supported by a EUR12.95 billion (about US$17.51 billion) loan under a two-year Stand-By Arrangement, IMF said in a statement.

Romania To Hike Pensions With Inflation Rate Not Depending On Avg Wage Under IMF Agreement – Sources

10:04, 25 Mart. 2009
Romania will change the calculation of pensions and increase them depending on the annual inflation rate instead of the gross average wage, to balance its public pension fund on the medium and long term under the agreement with the International Monetary Fund, or IMF.

Romania, IMF Set Loan Value At EUR12.95B To Avoid Unlucky 13

20:34, 24 Mart. 2009
Romanian authorities agreed with the International Monetary Fund the loan value in the stand-by agreement at EUR12.95 billion, to avoid 13, a number considered to bring bad luck, a source close to the talks told MEDIAFAX.

Romanian Pres Expects IMF Support For Reforms

18:26, 24 Mart. 2009
Romanian President Traian Basescu said Tuesday the stance of the International Monetary Fund IMF was by far more relaxed than his attitude in demanding the Government to make more aggresive reforms.

Romania To Sign Agreement With IMF, EC In 10-14 Days – PM

18:15, 24 Mart. 2009
Romania will sign the agreement with the International Monetary Fund and the European Commission in 10 to 14 days, after it receives a reply on the letter of intent sent by the Government, Prime Minister Emil Boc said Tuesday.

Romanian Govt To Revise Budget In April Or May

15:43, 24 Mart. 2009
Romania's Government will revise in April or May, for the first time this year, the 2009 budget, after the authorities and the International Monetary Fund agreed upon a budget deficit of 4.6% of the gross domestic product, from 2% of the GDP prior forecast, government sources told MEDIAFAX.

IMF Deal Keeps VAT, Flat Tax And Salaries – Romanian President

20:50, 23 Mart. 2009
Romanian President Traian Basescu said at the end of the meeting with Austrian investors on Monday, that the deal with the IMF and the European Commission will comprise certain elements which prove that the loan is only “a safety belt.”

Romania, IMF Agree On 4.6% Of GDP Budget Deficit In ’09 – Sources

20:42, 23 Mart. 2009
The International Monetary Fund delegation in Romania agreed with the Government a budget deficit of 4.6% of the gross domestic product in 2009, compared with the 2% of the GDP target included in the budget law, sources close to the talks told MEDIAFAX.

IMF, Romania Agree To „Almost Freeze” Public Salaries – Sources

20:09, 23 Mart. 2009
The International Monetary Fund and the Romanian government agreed to "almost freeze" the public sector salary fund, and authorities could make only certain adjustments, sources close to the talks told MEDIAFAX on Monday.

Romanian Industry Employers Left Out Of IMF Negotiations

19:42, 23 Mart. 2009
Romanian industry employers are unhappy they were excluded from negotiations regarding the agreement with the International Monetary Fund, describing the proceedings as “completely opaque”, a Romanian Industry Union (UGIR-1903) statement said Monday.

IMF Sees Romanian Economy Contracting 4% In 09, Budget Def At 6% Of GDP

16:10, 23 Mart. 2009
The International Monetary Fund sees Romanian economy contracting by 4% in 2009 and estimates a budget deficit of up to 6% of the gross domestic product, a trade union leader said after meeting the IMF delegation in Romania.

Romanian Social Democrat Ministers To Meet With IMF Officials Monday

11:47, 23 Mart. 2009
A delegation of Romanian social democrat ministers led by party leader Mircea Geoana meets with representatives of the International Monetary Fund, or IMF, Monday afternoon at the Romanian Senate.

No Salary, Pension Cuts In Romania Following IMF Loan – Sources

17:40, 22 Mart. 2009
The financial support package Romania and the International Monetary Fund are negotiating will not trigger lower basic salaries and pensions, government sources said Sunday.

IMF Sees Romanian Econ Shrinking By 4% In 09, Budget Def At 4% Of GDP – Sources

17:14, 18 Mart. 2009
International Monetary Fund's prognosis on Romanian economy shows a budget deficit above 4% of the GDP in 2009, as the GDP is expected to shrink by 3%-4% this year, Romanian representative to the IMF Mihai Tanasescu told the top members of the Social Democratic Party PSD, part of the ruling coalition.

Romania Won’t Need To Raise Taxes Following IMF Agreement – IMF Official

16:25, 18 Mart. 2009
Romania’s representative with the International Monetary Fund, Mihai Tanasescu, said Wednesday that Romania won’t need to raise taxes following an agreement with the IMF, according to the Fund’s analysis so far.

Romania’s Agreement With IMF, EC Deemed Preventive – PM

12:48, 18 Mart. 2009
Romania's loan agreement with the International Monetary Fund and the European Commission is preventive, and will have a major role in reviving the lending, the country's Prime Minister Emil Boc said Wednesday.

Intl Fincl Crisis May Speed Up Romania’s Modernization – PM

19:31, 16 Mart. 2009
The financial crisis, which asks for some decisive economic measures, might actually help Romania by accelerating its modernization and reducing its bureaucracy, with or without the International Monetary Fund’s financial help, Prime Minister Emil Boc said Monday.

Romania Needs “Preventive” Foreign Financing – Ctrl Bker

19:46, 13 Mart. 2009
Romanian central bank governor Mugur Isarescu told the members of the Government Friday the country needs a “preventive-like” foreign financing to ensure the economic stability and protect the population’s economic interests, the Government said.

IMF May OK Wage Adjustment To Inflation If Romania Adopts Unitary Pay Law

17:25, 11 Mart. 2009
The increase of public salaries with the inflation rate forecasted for this year might be accepted by the International Monetary Fund, or IMF, if Romanian authorities quickly adopt a "correct" unitary pay law for the personnel in the budget system, official sources told Mediafax Wednesday.

Romanian President: I Wish Romania Needed No IMF Deal

16:09, 11 Mart. 2009
Romania’s President Traian Basescu said Wednesday on the public radio station that he, as well as other politicians, wished Romania didn't need to borrow money from the International Monetary Fund, or IMF.

Romania May Ask IMF For 2-Yr Stand-By Agreement – Sources

15:37, 11 Mart. 2009
Romania will send the International Monetary Fund, after concluding the negotiations in Bucharest, a letter of intent requiring a two-year stand-by agreement, with five years to reimburse the loan, official sources told MEDIAFAX.

Romania’s Rating Downgrade Should Not Influence IMF Loan Negotiation

15:00, 11 Mart. 2009
Romania’s rating downgrade to below "investment grade" should not influence the negotiations between the local authorities and the International Monetary Fund on a loan agreement, the National Bank of Romania’s chief economist Valentin Lazea said Wednesday.

Romanian Ctrl Bker: An IMF Loan Would Support Forex Reserves, Foreign Investors’ Trust

10:44, 11 Mart. 2009
A potential loan from the International Monetary Fund would protect Romania’s foreign currency reserves and would send a strong signal to strengthen foreign investors’ confidence, National Bank of Romania’s chief economist Valentin Lazea said Wednesday.