imf

Romania, IMF Disagree On Privatizations, Social Security Contributions – Sources

19:47, 06 Mai 2011
The Romanian Government and the IMF delegation have not yet reached an agreement on the state companies to be privatized or restructured, or the right time to reduce social security contribution rates, people close to the matter told MEDIAFAX on Friday.

Romanian President Shares IMF Concerns That 2012 Elections Pose Risk To Reforms

11:19, 28 Apr. 2011
Romanian President Traian Basescu said Wednesday on national television TVR he shares the International Monetary Fund’s concerns that elections in 2012 pose risks to the country’s reforms, adding this is the reason he insisted on a precautionary deal with the IMF and the European Union.

IMF: Romanian 2012 Elections Pose Risk To Reforms

19:57, 27 Apr. 2011
The 2012 elections pose the greatest risk to the reforms assumed by Romania before international institutions, as the Government might undo some of them, arguing that the crisis is over and the economy is recovering, said people close to the talks between the IMF and Romanian authorities.

IMF: Romania May Reduce Social Security Taxes If It Guarantees Budget Gap Below 3% In 2012

19:56, 27 Apr. 2011
Romania may reduce the social security taxes paid by employers only if there are guarantees that it can achieve the fiscal targets of 2011 and 2012, when the budget deficit must drop below 3% of the GDP, said people close to the talks between the IMF and Romanian authorities.

IMF Has ‘No Doubts’ On Romania 2010 Deficit Data – Official

13:02, 27 Apr. 2011
The International Monetary Fund has “no doubts whatsoever” on the quality of the budgetary data sent by Romania for 2010, the country’s representative to the IMF said Wednesday.

Romanian PM Assures IMF Delegation Romania Can Emerge From Recession

12:02, 27 Apr. 2011
Romanian Prime Minister Emil Boc met Wednesday morning with a delegation of the International Monetary Fund, European Commission and the World Bank, whom he assured Romania can emerge from recession.

IMF: Romania Gross Govt Debt Up To 37.8% Of GDP In 2011

18:29, 12 Apr. 2011
Romania’s gross general government debt is likely to increase to 37.7% of the gross domestic product in 2011, from 35.2% a year earlier, the International Monetary Fund said in a report Tuesday.

IMF Sees Romanian Inflation At 4% In December 2011

18:21, 11 Apr. 2011
The International Monetary Fund estimates Romanian inflation will reach 4% at the end of 2011, at the upper limit of the central bank’s target, according to the fund’s latest World Economic Outlook report.

IMF Experts To Assist Romanian Tax Authority In Checking High Wealth Individuals

14:43, 10 Apr. 2011
A team of International Monetary Fund experts will conduct a technical mission at the headquarters of Romania’s tax authority ANAF between April 7 and 20, to help with indirect control methods and the check-up of individuals with high incomes, the tax authority said.

Romania To Draw IMF Funds Under Follow-Up Deal If Recession Lingers

19:58, 04 Apr. 2011
Romania is not expected to use the EUR5 billion placed at its disposal under a precautionary loan agreement with the International Monetary Fund and the European Commission, unless the economy underperforms, according to an IMF report.

Romania Budget Deficit To Include Data From Money-Losing Cos

18:44, 04 Apr. 2011
Romanian government will amend budget deficit calculations to include the debts of 30 state-run companies, as well as the results of investment fund Fondul Proprietatea, according to the country’s technical memorandum of understanding to a follow-up deal with the International Monetary Fund.

IMF To Monitor 18 Romanian Money-Bleeding Cos Under New Deal

17:22, 04 Apr. 2011
Romanian authorities and the International Monetary Fund have agreed to increase to 18 from 10 previously the number of companies monitored under a EUR3.5 billion follow-up deal with the international institution, according to the country’s technical memorandum of understanding.

Romanian Public Spending „Infested” By Inefficiency – IMF Official

17:04, 26 Mart. 2011
Romania must continue fiscal consolidation to reduce the budget deficit to under 3% by 2012, especially given its poor absorption of European funds and public spending "infested" by inefficiency, said IMF mission chief Jeffrey Franks.

EXCLUSIVE: Romanian Govt Arrears Almost Eliminated, Focus Moves To Cos’ Debts – IMF Official

16:44, 26 Mart. 2011
Romania's government arrears have been almost eliminated and the law now allows tighter local control, so the next issue will be the debts of state-owned companies, said IMF mission chief Jeffrey Franks.

Romania Must Improve Tax Collections, Slash Arrears, Costs To Lower Deficit – IMF

15:47, 26 Mart. 2011
Continued efforts to improve tax collections, tackling expenditure pressures, particularly in the health sector, and reducing arrears will be crucial to sustain the Romanian budget deficit's reduction, said the International Monetary Fund (IMF).

IMF OKs Final Review Of Stand-by Accord, New Deal Terms

17:41, 25 Mart. 2011
The Executive Board of the International Monetary Fund on Friday approved the final review of a EUR13 billion stand-by arrangement with Romania, and the terms of a new, precautionary deal that will start on March 31, an IMF official told MEDIAFAX.

ING: Romania’s Follow-up Deal With IMF Endangered By VAT Cut

11:30, 24 Mart. 2011
Romania’s follow-up agreement with the International Monetary Fund could be endangered by the lawmakers’ move to sustain a lower sales tax on basic food items, according to ING analysts.

IMF Board Analyzes New Agreement With Romania On March 25

13:41, 18 Mart. 2011
The Executive Board of the International Monetary Fund will discuss on March 25 the final review of the EUR13 billion stand-by loan for Romania and the terms of a new agreement with the Eastern European country.

Romanian State-Run Railway Co To Close 20% Of Network Unless It Outsources Railway Maintenance

12:58, 11 Feb. 2011
Romania’s state-owned railway company CFR SA will close 20% of the country's railroad network, about 4,000 kilometers of railway lines, unless it finds investors to ensure their maintenance, reads the letter of intent agreed upon by the Government and the International Monetary Fund.

EXCLUSIVE: Romania Ctrl Bank To Report EUR2B Drop In Reserves Under IMF Deal

10:51, 11 Feb. 2011
Romania’s central bank has pledged to consult with the International Monetary Fund if its reserves are to drop by over EUR2 billion in any given month during the country’s two-year follow up agreement with the fund, according to a draft letter of intent agreed with the IMF.

EXCLUSIVE: Romanian Office Checking High Wealth Individuals Operational By August

10:14, 11 Feb. 2011
The Romanian state office tasked with checking high net wealth individuals will be staffed by end-March and operational by August 2011, according to the letter of intent agreed upon by the Government and the International Monetary Fund.

EXCLUSIVE: Romania To Sell Majority Stake In Oltchim In 2H/2012

10:10, 11 Feb. 2011
Romanian authorities are poised to hire an international consultant to prepare key-privatizations of state run companies, including chemical producer Oltchim SA (OLT.RO), according to the country’s draft letter of intent agreed with the International Monetary Fund.

EXCLUSIVE: Romanian Energy Prices Adjusted To Market Rates Shortly

10:05, 11 Feb. 2011
Romanian government has pledged to adjust to market rates the energy and natural gas prices of existing contracts signed by state-owned companies as soon as possible, according to the country’s draft letter of intent agreed with the International Monetary Fund.

EXCLUSIVE: Romanian Govt To Revise List Of Compensated, Free Drugs, Cut Hospital Beds By 5,700

09:58, 11 Feb. 2011
Romania’s Government has committed in negotiations with the International Monetary Fund to revise the list of compensated and free medicines with a view to reducing their number and replacing the remaining ones with cheaper drugs.

EXCLUSIVE: Romania To Outsource Railroad Maintenance, Or Close 30% Of Network

09:57, 11 Feb. 2011
Romanian state-run railway company CFR SA will close 1,000 kilometers of railway lines by end-August and a further 6000 km (30% of the country's railroad network) later, unless the state can outsource their maintenance through public tenders.

EXCLUSIVE: Romania To Continue Spending Cut Policies In 2012, Amend Heating Aid Legislation

09:55, 11 Feb. 2011
Romania’s Government has committed in negotiations with the International Monetary Fund to continue spending cut policies in 2012 to bring the budget deficit down to 3% and revise the heating aid system by end-July, so subsidies will be granted only to people on low income.

EXCLUSIVE: Finance Ministry To Check Financial Indicators Of All State-Owned Cos

09:53, 11 Feb. 2011
Financial control of state-owned companies will be transferred to the Ministry of Finance from the respective ministries where they are subordinated to improve governance in the sector, the Romanian Government said in its letter of intent to the International Monetary Funds.

EXCLUSIVE: Romania To Allow Bucharest Public Transport Cos To Up Tariffs Beyond Inflation

09:52, 11 Feb. 2011
Romania’s Government has committed in negotiations with the International Monetary Fund to allow public transport companies in Bucharest, Metrorex and RATB, to hike their tariffs beyond inflation-indexing to allow them to cover their current expenses from revenues instead of subsidies.

IMF: New Agreement Aims Keeping Romania On The Right Track

10:17, 10 Feb. 2011
Romania’s follow-up agreement with the International Monetary Fund sets a series of ambitious goals for the next two years, but not all of them will be completed by the end of the financial program, IMF mission chief Jeffrey Franks said late Wednesday.

IMF: Romania’s Decision To Waive On Final Installment Unmeddled With

11:59, 08 Feb. 2011
Romania’s decision not to draw the last installment from its EUR13 billion loan with the International Monetary Fund was made of the government’s own accord and it sends a positive signal to investors worldwide, an official of the International Monetary Fund said Tuesday.

Romania Shouldn’t Expect Energy Price Hikes In „Near Future” – IMF

11:29, 08 Feb. 2011
Romanians should not expect electricity and gas prices to grow “in the near future”, since cost liberalization will develop gradually until 2015, according to Jeffrey Franks, the head of the International Monetary Fund’s delegation to Romania.

IMF: Romania Must Overhaul Energy, Transport Sectors

11:27, 08 Feb. 2011
Romania’s biggest challenge to ensure a sustainable economic growth will be to overhaul the public energy and transportation system, as the operators in the field require additional resources from the private sector, an official of the International Monetary Fund said Tuesday.

IMF Board To Review Romania Deal End March

11:01, 08 Feb. 2011
The Board of the International Monetary Fund will convene end March to approve the seventh and final review of its EUR13 billion stand-by loan extended to Romania and discuss the terms of a follow-up agreement, IMF mission chief Jeffrey Franks said Tuesday.

Main Taxes Unchanged In New Romania-IMF Deal – PM

20:31, 07 Feb. 2011
The follow-up deal between Romania and the International Monetary Fund will keep most taxes unchanged, while arrears will be eliminated gradually, Prime Minister Emil Boc said on Monday.

Romania Ctrl Bk Not To Access New IMF Cash Unless Reserves Depleted

15:58, 07 Feb. 2011
Romania will not draw any funds from its new loan agreement with the International Monetary Fund and the EU unless the region faces a major crisis and the central bank has to dig into its reserves to protect the leu from speculative attacks, central bank governor Mugur Isarescu said Monday.

Romania Ctrl Bk Not To Access New IMF Cash Unless Reserves Depleted

15:53, 07 Feb. 2011
Romania will not draw any funds from its new loan agreement with the International Monetary Fund and the EU unless the region faces a major crisis and the central bank has to dig into its reserves to protect the leu from speculative attacks, central bank governor Mugur Isarescu said Monday.

Romania, IMF Set Terms Of EUR5B Follow-up Deal – Ctrl Bk

12:35, 07 Feb. 2011
Romanian authorities have reached an agreement with the International Monetary Fund and the European Commission regarding the terms of a new EUR5 billion credit line, central bank governor Mugur Isarescu said Monday.

IMF Asks Romania To Liberalize Gas, Pwr Production Prices

12:51, 01 Feb. 2011
The International Monetary Fund asked Romania to discard regulated prices for the production of electricity and natural gas and to draw up a new calculation formula in this respect.

Romania Complied With IMF Requirements In ’10 – Fin Min

12:13, 31 Ian. 2011
Romanian Finance Minister Gheorghe Ialomitianu on Monday said the International Monetary Fund and the European Commission appreciated Romania’s results under the stand by agreement, adding value added tax revenue covered arrears and kept the budget deficit within agreed margins.

Romania, IMF In Talks For A 2 Years Follow-Up Agreement – Sources

13:25, 27 Ian. 2011
Romania's Government and the International Monetary Fund are discussing the terms of a two-year follow agreement to a EUR13 billion loan program that expires in May, people familiar with the talks said.