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.

Related Articles

Romania’s parliament endorses controversial criminal prosecution procedures

Romania’s Chamber of Deputies endorsed the controversial Code of criminal prosecution procedures on June 18, by 178 votes to 75 and one abstention.  The bill was passed late in the night ... more

Romanian prosecutors raid Holzindustrie Schweighofer plants in illegal logging probe

Romania’s Directorate for Investigating Organised Crime and Terrorism (DIICOT) raided on May 30 the offices and two plants of Austrian wood processing company Holzindustrie Schweighofer, local ... more

European Commission sees “strongly deteriorating fiscal outlook” in Romania

The European Commission, in the country-specific recommendation sent on May 23 to the ... more