world bank

Romanian President: 2012 Budget Targets Deficit Of 1.9% In Cash Terms

21:19, 03 Nov. 2011
Romanian President Traian Basescu said Thursday, after a meeting with the IMF, World Bank and European Commission delegation, that next year's budget will be built on a deficit of 1.9% of the GDP in cash terms, which can be increased up to 2.5% later in the year.

IMF: Romania May Accelerate Economic Growth With Good Reforms, Solid Investments

15:14, 30 Iul. 2011
Romania's economic growth will continue this year and may even accelerate next year, but only through continued and "satisfactory" reforms, improved absorption of EU funds and solid investment plans, IMF mission chief Jeffrey Franks said Saturday.

World Bank Lends Romania EUR500M For Social Assistance Reforms

11:26, 27 Mai 2011
The World Bank’s Board of Executive Directors on Thursday approved a EUR500 million loan to support a social assistance program of Romania’s government estimated at EUR5.5 billion.

WB: Romanian Leu Set To Firm Vs Euro On Long-Term

20:22, 19 Apr. 2011
Romania’s leu is bound to strengthen against the euro on the long run, once living standards improve, Kaspar Richter, senior economist at the World Bank (WB) told MEDIAFAX Tuesday.

WB: Romania Economy To See Solid Growth Improvement In 2011

19:54, 19 Apr. 2011
Romanian economy will grow at one of the fastest paces in Eastern Europe in 2011, but recovery remains sluggish, the World Bank (WB) said in a report Tuesday.

WB To Lend Romania EUR750M For Healthcare, Social Assistance Reform

14:32, 03 Feb. 2011
The World Bank will grant Romania a EUR750 million loan for two projects aimed to reform the healthcare and social assistance sectors.

WB Unlikely To Revise Romania 2011 GDP Forecast After Review Mission

13:23, 03 Feb. 2011
The conclusion of the World Bank’s review mission on Romanian economic and fiscal progress under a EUR20 billion international bailout will not prompt a revision of the country’s growth forecast for 2011, an official of the World Bank said Thursday.

World Bank Approves EUR300M Disbursement To Romania

10:27, 21 Ian. 2011
The World Bank on Thursday approved the disbursement to Romania of a EUR300 million installment of its EUR1 billion financial loan aimed to support structural reforms in key economic and social areas, the international institution said in a statement.

World Bank To Join IMF, EU For Romania Follow-Up Deal

14:00, 18 Ian. 2011
The World Bank is prepared to offer Romania technical and financial assistance for its planned follow-up deal with the International Monetary Fund and the European Commission, much like it did when the initial bailout package was signed two years ago, a World Bank official said Tuesday.

WB Puts Romania Among High Restructuring Emerging Economies

10:40, 13 Ian. 2011
The World Bank included Romania, alongside other five countries, in the category of developing economies in Europe and Central Asia undergoing the most serious restructuring, according to the bank's Global Economic Prospects 2011 report released Thursday.

Romania, World Bank Discuss Reform Plan, No Talks On New Loan

19:29, 11 Ian. 2011
The Romanian Government said Tuesday it will continue its partnership with the World Bank, but there were no talks of a new loan agreement in the meeting between Prime Minister Emil Boc and World Bank official Philippe Le Hourerou.

WB: 2.77 Million Romanians, 13.3% Of Population, Have Emigrated

15:02, 18 Nov. 2010
The number of Romanians who emigrated stands at 2.77 million this year, accounting for 13.1% of the population, but is expected to drop considerable on the long term, in 10 -15 years, as Romania converges toward Europe, the World Bank said Thursday.

Romania Ranks 56th In WB’s Doing Business 2011 Report

11:05, 04 Nov. 2010
Romania lost one position and ranked 56th this year among 183 countries included in a World Bank report that investigates the ease of doing business by comparing regulations that enhance and constrain the companies' activity.

World Bank Might Grant Loans To Help Romanian Agriculture

16:46, 04 Oct. 2010
The World Bank (WB) will look into ways to grant loans to the Romanian agriculture sector, the Romanian Agriculture Ministry said in a press release Monday.

World Bank: Romanian Public Sector Simply ‘Too Costly’

14:23, 16 Aug. 2010
Romania has an inefficient, highly costly public sector and the government needs to trim administrative spending toward levels more suited for its capacity to attract revenue, the World Bank said Monday.

World Bank: Romania Attractive For Long-Term Investments

16:31, 22 Iul. 2010
Romania remains an attractive country for long-term investments, but it’s less appealing to investors looking for quick scores, an official at the World Bank said Thursday.

WB: Multilateral Loan Recommended For Romania’s Budget Needs

16:17, 22 Iul. 2010
Low borrowing costs are vital to ensure adequate financing to cover Romania’s budget needs, an official at the World Bank said Thursday, adding that a new international loan package may be a good move at this time.

WB: Romania 2nd Most Accessible State To Start Foreign Business Worldwide

14:07, 07 Iul. 2010
Romania is the second most accessible country worldwide to start up limited liability companies with foreign capital, the World Bank said in a report Wednesday.

About 40% Of Romanians Meet Difficulties In Paying Loan Installments – Poll

14:36, 05 Iul. 2010
About 40% of the Romanians who took a bank loan encounter problems in paying their installments and 13% of them have overdue payments, according to a survey conducted for the World Bank by the Romanian Academy’s Institute for World Economics.

Romania’s Govt To Disclose Alternative Austerity Plan After Talks With IMF, WB – Interior Min

18:08, 25 Iun. 2010
Romanian Interior Minister Vasile Blaga said Friday that the Government will bring out its alternative austerity plan after discussions with the International Monetary Fund and the World Bank.

WB: Romania Vulnerable To Sovereign Debt Crisis

13:13, 10 Iun. 2010
Romania is among countries that are vulnerable to the sovereign debt crisis in Europe, because its financial sector is closely linked to highly indebted states in the continent, a report from the World Bank showed Thursday.

WB: Romanian Econ Activity Bound To Remain Negative In 2010

11:42, 10 Iun. 2010
Romania and Latvia will likely be Europe’s weakest economic performers this year, according to a global survey from the World Bank.

Romania Climbs One Notch To 80th In WB Purchasing Power Top

13:14, 20 Apr. 2010
Romania edged up one notch to 80th in a global ranking by purchasing power parity, a World Bank survey showed Tuesday.

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.

World Bank Proposes Romanian Public Wage System Which Could Freeze Certain Salaries

19:36, 03 Feb. 2010
The World Bank proposed to the Romanian Government a simplified public wage system, under which jobs would be classified into around 10 occupational groups and 1,000 positions, but warned that these changes could indefinitely freeze salary increases for jobs which are downgraded in value.

World Bank Commends Romania’s Progress Of Reforms, Prepares Another Visit

13:06, 27 Ian. 2010
The World Bank team to Romania commended the country’s significant progress in achieving the agreed reform agenda part of the second Development Policy Loans (DPL) program and committed to return to Bucharest as progress continues, the institution said Wednesday.

WB Raises Romania 2011 Growth Outlook To 4.2% Vs 2.5%

10:02, 21 Ian. 2010
The World Bank raised its forecast on Romanian economic growth to 4.2% in 2011 from a previous 2.5%, leaving this year’s predictions unchanged at 0.5%, according to a report on global economic prospects released Thursday.

WB Mission To Romania To Focus On Public Sector Reform

13:45, 17 Ian. 2010
A World Bank mission, which will be in Bucharest along similar missions from the EU and the IMF during February 20-27, will mainly target Romania’s reform of the public sector, social assistance, and the reforms in the financial sector.

Romania Ranks 1st Among Six Eastern Europe Countries By Number Of Closed Companies – Survey

14:30, 19 Dec. 2009
Romania registered the highest percentage of companies closing down in 2008 and 2009 due to the economic crisis, according to a survey conducted by the World Bank in the June 2009 and July 2009 interval.

WB: Romania Worse Hit By Global Crunch Due To High Volume Of FX Loans, Inflation

14:10, 15 Dec. 2009
Romania and the Baltic countries have been hit worse by the economic downturn compared with states such as Poland and the Czech Republic due to the high volume of foreign currency loans and a slower disinflation process, according to Juan Zalduendo, lead economist at the World Bank.

WB May Approve 2nd EUR360M Loan To Romania By Yr-end – MOF

14:59, 22 Oct. 2009
The World Bank may approve a second EUR360 million loan of a larger EUR1 billion financial package aimed at development policies in Romania by the end of the year, the country's Finance Ministry said in a statement Thursday.

Romania Gets EUR300M In WB Money – Treasury Head

15:12, 21 Oct. 2009
Romania has received the first EUR300 million loan of a larger EUR1 billion financial package granted by the World Bank, Treasury head Laurentiu Andrei told MEDIAFAX Wednesday.

Romania To Get EUR300M From WB In ‘Few Days’ – Official

15:01, 20 Oct. 2009
The World Bank will give Romania a first EUR300 million loan from a EUR1 billion financial package in “a few days,” Finance Ministry state secretary Bogdan Dragoi told MEDIAFAX Tuesday.

Romania Outrun By Botswana In World Bank’s Ease Of Doing Business Top

11:19, 09 Sept. 2009
Romania fell ten positions to the 55th place in World Bank's "Doing Business 2010" ranking, which analyzes the regulations that favor or constrain the business activity in 183 economies, lagging behind states such as Bulgaria, Azerbaijan, Botswana or the Baltic countries.

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.

World Bank Approves 1st Loan Worth EUR300M To Romania

16:35, 17 Iul. 2009
The World Bank’s Board approved Thursday a first loan worth EUR300 million to Romania, granted to help it mitigate the global economic crisis and resume growth and EU convergence.

World Bank Launches Country Partnership Strategy With Romania For ’09 – ’13

10:25, 17 Iul. 2009
The World Bank launched Thursday a new Country Partnership Strategy CPS with Romania, which sets the framework of the institution’s program on the local market for 2009-2013.

World Bank: Romania’s GDP Seen Up 0.5% In 2010, After 4% Fall In ’09

10:57, 22 Iun. 2009
The World Bank forecasts a 4% contraction in Romania’s gross domestic product this year, followed by a 0.5% GDP growth in 2010, and 2.5% in 2011, respectively, according to "Global Development Finance 2009" report published Monday.

WB Recommends Romania To Raise Retirement Age Above 70 By 2050

14:39, 30 Mart. 2009
The World Bank recommends Romania to raise the minimum retirement age over the 70 years old ceiling until 2050 and to keep the taxes at levels corresponding with the current retirement age in order to restore the fiscal balance in the country’s pension system that would register huge gaps.

World Bank To Implement Fincl Support Package With Romanian Govt

16:21, 25 Mart. 2009
The World Bank is prepared to work closely with the Romanian Government over the next two years to implement a package of measures that will limit the severity of the recession and its impact on the vulnerable, the lender said in a statement Wednesday.