Romania to announce new agreement with IMF, EU on July 31

By bne IntelliNews July 30, 2013

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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

IIB closes order book for new bond issue on the Bucharest bourse

Moscow-based International Investment Bank (IIB) said on October 12 it has successfully closed the order book for a new bond issue on the Bucharest Stock Exchange. The issue, structured in two ... more

Romania’s Electrogroup Infrastructure announces plans to float on Bucharest bourse

Romanian provider of infrastructure and infrastructure services Electrogroup Infrastructure announced its intention to pursue an initial public offering (IPO) on the Bucharest Stock Exchange (BVB). ... more

Pension law revision to cost Romania 3.2% of GDP when fully enforced in 2022

The new pension law currently under debate will generate a “budgetary impact” of RON9bn in 2020, RON29bn in 2021 and RON40bn in 2022 (3.2% of GDP) when fully enforced, according to Finance ... more

Most Read

  1. Albania beats EU nations on renewable energy
    8 days ago
  2. Belarus' new nuclear power plant will change the balance of energy in the Baltics
    7 days ago
  3. IMF ranks Ukraine as Europe's poorest country
    2 days ago
  4. Russia Inc is more profitable than in 2008 and heading for a record-breaking current account surplus
    6 days ago
  5. Romania ranked worst among EU countries on Social Progress Index
    2 days ago
  1. Turkish lira at new all-time low in Real Effective Exchange Rate terms
    14 days ago
  2. Albania beats EU nations on renewable energy
    8 days ago
  3. Political row as Turkey calls in McKinsey to help solve economic woes
    17 days ago
  4. Russia hints at plans to contest Macedonia name deal through the UN
    15 days ago
  5. Who's who in Ukraine's 2019 elections
    1 month ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss