The Romanian government will make public on July 31 the details of the follow-up stand-by agreement with the IMF and the EU, PM Victor Ponta announced.
The details of the new agreement were already sketched, he stressed, but last-minute adjustments are possible. Notably, the PM’s statement confirmed that the EU will join the IMF in the new agreement with Romania – after speculations had put under doubt EU's partaking in the Fund’s new deal.
The new agreement will tackle the privatisation process at large state-controlled companies like energy firms Hidroelectrica, Nuclearelectrica and Romgaz, Ponta disclosed.
Under the previous arrangement, IPOs of 10-15% stakes at these three energy companies were considered but they have been delayed and will probably be re-scheduled under the follow-up agreement. The privatisation of cargo railway company CFR Marfa, currently in limbo, will also be tackled, Ponta said.
Greece’s Eurobank said on November 10 that it expects to sell its Romanian units to local lender Banca Transilvania (BT) at the end of November. The transaction includes Bancpost, ERB Retail ... more
The finance ministers of the European Union member states have called for the creation of a blacklist of tax havens to crack down on tax dodging, the ministers said at a meeting in Brussels on ... more
Romanian trade union confederation CNSLR Fratia announced on November 2 it has decided to start procedures to launch general strike, following the government’s decision to transfer social ... more