imf

Romania To Ask IMF For Third Waiver On Govt Arrears – Sources

14:05, 27 Apr. 2010
Romania’s Government is planning to ask the International Monetary Fund for a new waiver of non-observance pertaining to the first-quarter performance criteria in the sector of general government arrears, government sources said Tuesday.

IMF Sees Romania Economy Growing 5.1% In 2011

16:53, 21 Apr. 2010
The International Monetary Fund estimates Romania’s economy will grow 5.1% in 2011, the biggest increase in the European Union, compared with a modest growth of 0.8% envisaged for this year, according to the fund’s latest World Economic Outlook.

IMF Raises Forecast On Romania’s ’10 Inflation To 4%

16:34, 21 Apr. 2010
The International Monetary Fund raised its forecast on Romania's annual inflation in 2010 by 0.4 percentage points to 4%, the institution's World Economic Outlook report showed Wednesday.

IMF To Visit Romania April 27-May 7

15:05, 19 Apr. 2010
The International Monetary Fund will send a mission to review Romania’s progress under a EUR13 billion aid package during April 27 and May 7, Tonny Lybek, IMF representative to Romania, said Monday.

IMF Cuts Romania’s 2010 Growth Forecast To 0.8%

20:11, 15 Apr. 2010
The International Monetary Fund on Thursday cut its growth forecast for Romania this year to 0.8% from 1.3% previously, due to weaker-than-expected economic results in the last quarter of 2009 and feeble consumption.

Romanian Ministers Have Three Weeks To Propose Job Cuts, Govt Awaits IMF Approval

19:11, 14 Apr. 2010
Romanian ministers have three weeks to come up with concrete propositions to restructure institutions under their authority and the Government is also waiting for the IMF’s approval on cost standards to be applied in public administration, people close to the matter told MEDIAFAX Wednesday.

A New Romania-IMF Agreement Can Ease Financing On Private Mkt – IMF Official

19:18, 11 Apr. 2010
A new agreement between Romania and the IMF can ease financing on the private market, even if Romania does not use the funds available under the agreement, as this will show investors that the state is on the right path, said Jeffrey Franks, head of the IMF mission to Romania.

Romania’s Public Sector Adjustment Takes Longer In Democracy, But Will Be Achieved – IMF Official

17:41, 11 Apr. 2010
Romania’s public sector adjustment takes longer, as talks and debates require time in a democratic regime, but it shall be achieved, said Jeffrey Franks, head of the IMF mission to Romania.

Romanian GDP Seen Growing 1% In H2 – IMF

16:14, 09 Apr. 2010
Romanian economy is likely to grow by 1% in the second half of the year, but a full recovery will take time, said Jeffrey Franks, head of the International Monetary Fund’s mission to Romania.

IMF Chief: Romania’s Progress Satisfactory, Fiscal Sector Still Needs Work

15:28, 30 Mart. 2010
The International Monetary Fund is mostly satisfied with Romania’s progress related to the EUR13 million standby agreement signed last year, but the country has yet to consolidate its finances, the IMF chief said Tuesday.

IMF Chief: Romania Could Miss Euro Adoption Target

13:15, 30 Mart. 2010
Romania could adopt the European currency later than planned, but still needs to consolidate its monetary and fiscal policies to stay on track, the head of the International Monetary Fund said Tuesday in Bucharest.

Romanian President Says Romania Wants Long-Term Collaboration With IMF

12:43, 30 Mart. 2010
Romanian President Traian Basescu told IMF chief Dominique Strauss-Kahn Tuesday that Romania wants a long-term collaboration with the International Monetary Fund.

IMF Head: Some Romanians Might Lose Their Jobs In Next Months

11:37, 30 Mart. 2010
Romania’s unemployment might grow in the coming months, but the government should solve the issue and show confidence in the economic recovery, IMF Managing Director Dominique Strauss-Kahn said Tuesday in Bucharest.

IMF Head Meets Romanian Officials In Bucharest

10:50, 30 Mart. 2010
The International Monetary Fund tries to help Romania go back on track and implement the policies the Romanian authorities choose, even if the institution’s team may seem tough, IMF's head said Tuesday in Bucharest.

Romania To Revise State Budget After Talks With IMF, In May-June

16:16, 27 Mart. 2010
Romania’s Government will operate this year’s first state budget revision toward the end of the first half of the year, in May or June, after talks with the IMF mission, scheduled for late April, people close to the matter told MEDIAFAX Saturday.

Romania To Continue Assistance Agreement With IMF, WB After The Crisis – President

21:05, 24 Mart. 2010
Romanian President Traian Basescu said Wednesday at the local American Chamber of Commerce (AmCham) that Romania aims to continue collaboration with the IMF and the World Bank after the crisis as well, but in terms of assistance.

IMF Chief To Visit Romania March 30

15:29, 15 Mart. 2010
Dominique Strauss-Kahn, Managing Director of the International Monetary Fund, will visit Bucharest on March 30, as part of his tour to Europe, an IMF official said Monday.

Romanian Senate Adopts Amended Draft Fiscal Responsibility Law

13:47, 03 Mart. 2010
Romania’s Senate on Wednesday amended and adopted a draft fiscal responsibility law, which sets limits on budget revisions operated throughout one year and provides fiscal rules on total spending, staff expenses and budget deficit.

IMF: Romania’s Planned Spending Slashes Not Without Risk

16:32, 24 Feb. 2010
Romania’s planned spending cuts in the public sector for 2010 are in line with the government’s consolidation strategy, but not without risks, the International Monetary Fund said in a report.

Romania, IMF Set 2010 Budget Gap Target At RON32B

20:59, 23 Feb. 2010
Romania and the International Monetary Fund agreed on a deficit target at the general consolidated budget of 31.9 billion lei (EUR1=RON4.1224) in 2010, according to the supplementary letter to Romania’s standby arrangement with the IMF.

Romania Pledges To Approve Unitary Wage Law Norms By September 2010

20:46, 23 Feb. 2010
Romania’s Government pledged to approve the norms to implement the unitary wage law by the end of September, cut staff expenses, other than wage costs, by 30%, as well as reduce bonuses for civil staff, according to the country’s additional letter of intent to the standby agreement with the IMF.

Romania Pledges To Cut Staff Costs By 0.2% Of GDP In 2010

20:11, 23 Feb. 2010
Romanian government pledged to cut public personnel expenditure by 0.2% of the gross domestic product in 2010, according to the country’s latest additional letter of intent to the standby agreement with the International Monetary Fund.

Romania Govt Formally Accepts EUR2.45B Disbursement From IMF

13:06, 23 Feb. 2010
Romania’s government on Tuesday adopted an emergency ordinance allowing the transfer of EUR2.45 billion under a standby agreement with the International Monetary Fund.

IMF To Transfer EUR2.45B To Romania Tuesday

16:31, 22 Feb. 2010
The International Monetary Fund will transfer two new loan tranches amounting to EUR2.45 billion to Romania on February 23, the Finance Ministry said Monday.

IMF Approves EUR2.3B Disbursement For Romania

21:36, 19 Feb. 2010
The International Monetary Fund on Friday approved the disbursement of EUR2.3 billion for Romania after completing new reviews of the country’s performance under a EUR13 billion standby agreement.

IMF Votes Feb 19 Whether To Disburse EUR2.3B To Romania

12:47, 12 Feb. 2010
The International Monetary Fund is to decide February 19 whether it will disburse Romania another EUR2.3 billion of a EUR13 billion two-year standby loan, according to the IMF executive board calendar.

Romania, IMF Loan Agreement Could Be Switched To Precautionary – Fin Min

12:53, 08 Feb. 2010
Romania’s standby arrangement with the International Monetary Fund could be changed into a “precautionary” agreement after the fund’s new review mission in May, provided the local economy shows real signs of recovery, Finance Minister Sebastian Vladescu said Monday.

IMF: New Mission To Visit Romania Late April-Early May

12:58, 27 Ian. 2010
A new mission of the International Monetary Fund will arrive in Bucharest late April or early May to assess Romania’s compliance with the terms set under a EUR13 billion loan package, IMF mission head Jeffrey Franks said Wednesday.

IMF Puts Off To April 2011 Romania’s Deadline To Cancel Arrears

12:52, 27 Ian. 2010
The International Monetary Fund has extended the deadline by which Romania must eliminate the government arrears until April 2011, due to a difficult monitoring of the local debt, IMF mission head Jeffrey Franks said Wednesday.

Romanian Lawmakers To Pass Fiscal Responsibility Law In March, Pensions Bill By June – IMF

12:52, 27 Ian. 2010
Romanian authorities agreed with the representatives of the International Monetary Fund that the Parliament would approve the fiscal responsibility law in March while the pensions law would be approved by June, Jeffrey Franks, chief of the IMF mission to Bucharest, said Wednesday.

Romania To Post Slight GDP Growth In 1Q – IMF

11:08, 27 Ian. 2010
The International Monetary Fund expects the Romanian economy to return to growth in the first quarter, after a small contraction in the fourth quarter of 2009, Jeffrey Franks, head of the Fund's mission to Bucharest, said Wednesday.

IMF Says To Unblock EUR2.3B Tranches To Romania, Half Goes To Budget

11:00, 27 Ian. 2010
The International Monetary Fund is set to release in February EUR2.3 billion of the EUR13 billion stand-by loan, as the program agreed with the fund is broadly on track, Wednesday said Jeffrey Franks, head of IMF's mission to Bucharest.

IMF, Romania Agree On Pension, Fiscal Responsibility Bills – Official

14:15, 26 Ian. 2010
The International Monetary Fund and the European Commission have reached an agreement with the Romanian authorities on the content of the bills on public pensions and fiscal responsibility, IMF mission head Jeffrey Franks said Tuesday.

Romania Most Likely To Get Next Tranches Of IMF Loan – PM

15:32, 24 Ian. 2010
Romania will encounter no problems in getting the next tranches of a EUR13 billion loan, as the country fulfilled its engagements, Romanian Prime Minister Emil Boc said Sunday.

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

19:24, 23 Ian. 2010
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.

Romania Must Reduce Budget Deficit To Keep Public Debt Under Control – IMF Official

12:25, 23 Ian. 2010
Romania’s public debt will not represent a threat if the country consolidates its tax system to reduce the budget deficit to 5.9% of the GDP in 2010 and then take it under the 3% target set by the Maastricht Treaty, the head of the IMF mission to Romania, Jeffrey Franks, said Friday.

Romania To Use Half Of IMF Loan Tranches For Budget – FinMin

14:30, 22 Ian. 2010
Romanian Finance Minister Sebastian Vladescu on Friday said half of the EUR2.3 billion to be released by the International Monetary Fund will be directed to the state budget, but expressed hope that such a measure won’t be necessary in the future.

Romania’s Additional Letter To IMF Deal Won’t Bring Radical Changes – Official

09:46, 22 Ian. 2010
The additional letter to Romania’s EUR13 billion standby agreement with the International Monetary Fund will include certain modifications to the program, though nothing “radical”, IMF mission chief Jeffrey Franks said Thursday.

Romania To Get New Tranches Despite Missed Inflation Target – IMF Official

13:40, 21 Ian. 2010
The International Monetary Fund will most likely continue its financing program with Romania and will release two new tranches of a EUR13 billion loan, despite the eastern European country’s failure to meet its inflation target in 2009, IMF mission head Jeffrey Franks said Thursday.

IMF Plans Ambitious Reforms In Romania In ’10 – Official

15:46, 20 Ian. 2010
The International Monetary Fund has an ambitious agenda of reforms and programs in Romania in 2010, whose implementation will prepare the relaunch of the country's economy at the end of financial crisis, the head of IMF mission to Romania Jeffrey Franks said Wednesday in Vienna.