However, the international financial institution official stated that there was no deadline for the Romanian authorities to finalize the privatization of the freight state company, so they have met the obligations undertaken in the letter of intent.
The International Monetary Fund (IMF) criticizes harshly the failure to privatize CFR Marfa. The failure to privatize CFR Marfa will impact Romania’s reputation in the investors’ community, Guillermo Tolosa, residential representative of IMF for Romania and Bulgaria, believes. “The latest news (e.n. about the privatization of CFR Marfa) shows a very disappointing regress in this process. It is still too early to draw definitive conclusions (e.n. regarding who made which mistakes in implementing the procedure). A thorough analysis must be performed so as to prevent further mistakes in the future. This regress will impact the outlook of rapid improvements in the sector, and, in general, Romania’s reputation in the community of investors,” Tolosa stated, according to bursa.ro. The IMF official continued by saying the institution he represents will support the local authorities’ commitment to achieve the objective of privatizing the CFR Marfa Company. According to him, IMF representatives will soon sit down with Romanian government officials to discuss practical measures related to the process of selling the rail freight transport operator, which need to be adopted by the Executive in Bucharest.
Later, he said for Agerpres that there was no deadline for the Romanian authorities to finalize the privatization of CFR Marfa, so they have met the obligations undertaken in the letter of intent. When asked if the government is in any way responsible for the failed privatization of CFR Marfa, he replied, “It is still too early to draw definitive conclusions (e.n. regarding who made which mistakes in implementing the procedure).” He also stated that the government should continue its activity in view of privatizing CFR Marfa.
The privatization of the freight state company , agreed upon with the IMF delegation, ended in failure one week ago when none of the two parties involved managed to meet their obligations before the deadline specified in the government decision regulating the procedure.
IMF delegation in Bucharest today. Main topic – 2014 budget
The first assessment of the new agreement concluded between Romania and the IMF is scheduled to be conducted in upcoming days. IMF and European Commission representatives will be arriving to Bucharest today for a series of meetings with Romanian officials, which will take place tomorrow. The IMF delegation, present in Romania until November 5 and led by Andrea Schaechter, will be discussing with Executive leaders, budget officials and social dialogue partners about the country’s economic and political situation and the reforms we have undertaken to implement, money.ro writes. The main topics of discussion will be budget adjustment and the 2014 budget. At the government session held late last week, Prime Minister Victor Ponta asked ministers to prepare for the two topics which will be brought up at the very first meeting with IMF and European Commission representatives. In late July, Romanian authorities and external financers agreed upon the new conditions for concluding a new preventive EUR 4 billion loan agreement for a period of two years, the amount being divided equally between the IMF and the European Commission.
PDL introduces simple motion
The leadership of the Democratic Liberal Party (PDL, in opposition) decided to table today within the Deputies’ Chamber a simple motion regarding the privatization of CFR Marfa, entitled “The chronicle of another failed privatization”, PDL spokeswoman Adriana Saftoiu announced yesterday. Saftoiu also said after the meeting of the National Steering Bureau that by filing this motion, PDL wants to get answers to three questions – what is going to happen to the 11,000 employees of CFR Marfa, who is going to assume the responsibility for the Government’s resolution that led to the failure of the privatization and when is going to be resumed the privatization process. She added that the resignation, at least the honorary resignation, of Transport Minister Ramona Manescu is a must.