isarescu

Banks Reticent To Finance Romania At 7% Yield, Despite Low Mkt Rates – Ctrl Bker

Romanian banks still hesitate to finance the state at a 7% annual yield, despite money market rates of around 2%, central bank governor Mugur Isarescu said Thursday.

Romania Ctrl Bk Reserves Can’t Be Used To Cover Deficit – Gov

Romania's gold reserves would be depleted in one year if the central bank were to cover the social security budget from its reserves, the bank’s governor Mugur Isarescu said Thursday.

Romania Needs Steady Reserves To Attract Loans – Ctrl Bker

Romania needs steady international reserves to attract new loans, central bank governor Mugur Isarescu said Thursday, adding that local and foreign borrowings are estimated at EUR8 billion-EUR9 billion in 2010.

Romania Ctrl Bk: VAT-Induced Inflation Has Corrective Role

The inflation derived from the recent increase in Romania’s value added tax level is not monetary and has a corrective role, central bank governor Mugur Isarescu said Thursday.

Romania Ctrl Bank Head Says Interest Rates On Deposits Too High

Romanian central bank governor Mugur Isarescu on Thursday said local lenders pay high enough interest rates on leu-denominated deposits, despite being below the forecast year-end inflation level of 8%.

Romania Ctrl Bk Considers New Restrictions To Curb FX Loans

Romania’s central bank could introduce new measures designed to discourage foreign currency lending and limit risk exposure, governor Mugur Isarescu said Monday.

Romania Central Bank Says Inflation May Rise To 8% In 2010

Romanian inflation may accelerate to around 8% this year, driven by a recent increase in the value added tax level, central bank governor Mugur Isarescu said Monday.

Romania Ctrl Bank Head Says Tax Increase Possible In The Future

Romania may resort to tax increases in the coming years, but such a measure requires an extended general taxation pool and no tax exemptions, central bank governor Mugur Isarescu said Wednesday.

Romania Can’t Monetize Its Public Debt – Ctrl Bank Chief

Romanian central bank isn’t able to follow the example of the United States and monetize the public debt, central bank governor Mugur Isarescu said Wednesday, warning that a high banking exposure may endanger budget deficit financing.

Romania Ctrl Bank Head: Tax System Hampered By Exemptions

Romania’s fiscal system is “shredded” because a long list of tax exemptions that eat away at the budget revenue, central bank governor Mugur Isarescu said Wednesday.

Romania Ctrl Bank: High Deficits Don’t Buy Time To Recover From Crisis

Postponing corrective actions against Romania’s budget deficit in an attempt to buy time and emerge from the recession would only deepen the recession and will deplete financing resources, central bank governor Mugur Isarescu said Tuesday.

Romania Ctrl Bank: Public Sector Must Adjust To Economic Evolution

Romania’s EUR13 billion loan agreement with the International Monetary Fund has already produced two of its desired objectives, but the public sector has yet to adjust to the current economic climate before a healthy revival can be seen, central bank governor Mugur Isarescu said Thursday.

Romania Economy At A Crossroads – Central Bank Governor

Romania is at a crossroads and it must make a decision to resolve the large discrepancy between revenue and spending, central bank governor Mugur Isarescu said Thursday.

Romania Ctrl Bank Chief Sees Less Room For Further Rate Cuts

Romania’s central bank is bound to keep a prudent stance in the coming period, as the recent evolutions on the local and external markets give it less room for additional rate cuts, governor Mugur Isarescu said Thursday.

Senate Chairman Invites Ctrl Bk Head, Fin Min To Talks On Romania’s Economic Situation

Romanian Senate Chairman Mircea Geoana said in a press release Wednesday that he invited the country’s central bank governor and finance minister to talks with the Senate’s Standing Office on the country’s economic situation, in the fallout of recent negotiations with IMF experts.

Romania Ctrl Bk: Eurozone Entry Might Be Difficult In Following Years

Romania’s planned euro adoption could prove more difficult in light of the recent problems faced by some of the 16 nations that use the European single currency, central bank governor Mugur Isarescu said Wednesday.

No Capital Outflow From Romania – Ctrl Bk Head

Romania doesn’t experience capital outflows following the tense situation in Greece, central bank governor Mugur Isarescu said Wednesday.

Romania Budget Gap Lowered By Spending Cuts, Not Tax Increases – Ctrl Bk Chief

Trimming social and current expenses and stepping up investment can help lowering Romania’s budget deficit, central bank governor Mugur Isarescu said Wednesday.

Romania Ctrl Bank Says Falling Inflation Good Reason To Cut Rates

A falling inflation is a good reason to cut the key rate, central bank governor Mugur Isarescu said in a banking seminar Friday, a few days ahead of the bank’s monetary policy meeting due March 29.

Romanian Central Bank Governor Upholds Pension Reform

Romanian central bank governor Mugur Isarescu said Thursday the country’s public pension system needs reformation because it is currently unsustainable.

Romanians Displeased With Social Services, Money Transfer Not A Solution – Ctrl Bk Governor

Romanian central bank governor Mugur Isarescu said Thursday people are displeased with the country’s social services which are said to be underfunded, adding that taking money from one place to subsidize another is not a solution.

Romania Ctrl Bk Head Says 5.9% Of GDP Budget Gap ‘Reasonable’

Aiming at a budget deficit of 5.9% of the gross domestic product for 2010 is “reasonable” given the current economic conditions and it’s a key-element for Romania’s program with the International Monetary Fund and the European Commission, central bank governor Mugur Isarescu said Friday.

Romania Ctrl Bk To Keep Monetary Policy Decisions ‘Prudent’

Romanian central bank will maintain a prudent monetary stance, factoring in the market’s response to the policy decisions, central bank governor Mugur Isarescu said Friday.

Private Lending To Grow Gradually In 2010 – Romanian Ctrl Bker

Romanian private lending is bound to return to growth in the following period, but there will be no jump-starting of the sector, central bank governor Mugur Isarescu said Friday.

Romanian Central Bank Governor Awarded For Professional Merits

Romanian President Traian Basescu on Tuesday awarded central bank governor Mugur Isarescu the “Romanian Star” Order, the highest civilian decoration in the country, for "exceptional results" at the helm of the central bank.

Romania Ctrl Bker: Sustainable Disinflation, More Important Than Inflation Target

Having a sustainable disinflation is more important than being able to meet a short-term inflation target, Romanian central bank governor Mugur Isarescu said Tuesday.

Isărescu: În prima zi la BNR am fost la Tezaur, să văd dacă mai e acolo

Primul lucru pe care l-a făcut Mugur Isărescu, guvernatorul Băncii Naţionale a României (BNR), atunci când a preluat această funcţie, în septembrie 1990, a fost să viziteze Tezaurul băncii centrale, informează cotidianul Gândul.

Romania’s President Disclaims Talks With Central Bank Governor On Future PM Position

Romanian President Traian Basescu said Friday he did not have talks with central bank Governor Mugur Isarescu to convince him to accept the prime minister position.

IMF Loan Helped Romania Avert Potential Currency Crisis – Ctrl Bker

Without the EUR20 billion aid package obtained in the spring, Romania might have been unable to prevent growing pressure on the leu, which in turn would have negatively impacted inflation and the leu-denominated household financial assets, central bank’s governor Mugur Isarescu said.

Isărescu: În lipsa acordului cu FMI, România ar fi riscat o criză a cursului de schimb

România ar fi riscat în lipsa acordului cu FMI un gol de finanţare externă de cel mult 16 miliarde de euro, care ar fi dus, cel mai probabil, la o criză a cursului de schimb, cu efecte negative asupra inflaţiei şi activelor financiare în lei ale populaţiei, susţine guvernatorul BNR, Mugur Isărescu.

Geoană vrea Consiliu Consultativ pentru redresare economică, după modelul lui Obama

Candidatul PSD la Preşedinţie, Mircea Geoană, a propus, joi, la o dezbatere, înfiinţarea unui Consiliu Consultativ de redresare economică, aşa cum a făcut preşedintele american Obama, care să reunească profesionişti de top şi care să funcţioneze pe lângă viitorul şef de stat sau pe lângă premier.

Isărescu ar vrea realocarea banilor dinspre salarii spre investiţii

România are ca alternative ori realocarea banilor dinspre salarii spre investiţii, ori majorarea taxelor, total nerecomandată, sau o ajustare brutală din partea pieţelor, a declarat, miercuri, guvernatorul BNR, Mugur Isărescu.

Isărescu: Nu cred că un an de alegeri trebuie să fie în dauna stabilităţii economice

Un an în care se organizează alegeri nu trebuie să dăuneze stabilităţii economice, a declarat guvernatorul BNR, Mugur Isărescu, care a atrage atenţia că România trebuie să găsească "drumul cel drept" între păstrarea echilibrului macroeconomic şi financiar şi alegeri.

Romania To Seek Alternate Financing To Cover Budget Gap – Ctrl Bker

Romania’s Finance Ministry has to look for new sources to finance its budget gap this year, as the International Monetary Fund and the European Commission are likely to defer additional loan tranches for early 2010, central bank governor Mugur Isarescu said Friday.

Romania Ctrl Bk Revises Up ’09 Inflation Forecast At 4.5%

Romania’s central bank revised upward its estimate on the 2009 annual inflation rate to 4.5% from 4.3% previously forecast, central bank governor Mugur Isarescu said Friday.

IMF Mission Meets Romanian Ctrl Bk Governor, Finance Minister

A mission of the International Monetary Fund met Wednesday with central bank Governor Mugur Isarescu and held talks with the representatives of the Finance Ministry.

Romania’s President Deems Ctrl Bk Governor As Ideal PM

Romania’s acting President Traian Basescu said Friday on public radio central bank governor Mugur Isarescu would have been the best option for prime minister, but the current economic crisis does not allow such a move.

Mugur Isarescu Reappointed Romania’s Ctrl Bk Governor

Romanian parliament on Thursday reappointed central bank governor Mugur Isarescu for a new five-year term in office.

Romania Ctrl Bk Makes Euro Adoption Top Priority – Governor

Romanian central bank’s main objective is to join the eurozone in 2014-2015, governor Mugur Isarescu said ahead of a parliament vote on the bank’s new Board structure Thursday.

Romanian Ctrl Bk Governor Gets Unanimous Vote For New Term

Romanian Parliament's budget committees late Tuesday voted unanimously in favor of reappointing Mugur Isarescu as governor of the central bank BNR, subject to parliament approval.