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AVAS wants 1968-1989 Bancorex documents declassified

The State Asset Resolution Authority (AVAS) is asking for the declassification of the documents managed by the former Romanian Bank for Foreign Trade (Bancorex) between 1968 and 1989. ‘AVAS finds it necessary that all the documents that were managed by the former Romanian Bank for Foreign Trade between 1968 and 1989 should be declassified. As you know, the types of documents that were classified as state secret documents in that period were Romania’s import and export plans, centralized balances of credit and payments balances, the foreign currency projection and associated progress reports, the population’s balances of income and expense, the progress made in all import and export negotiations I think the public needs to know those things,’ AVAS President Mircea Ursache said, according to Mediafax. The authority is working on a draft law that will be sent to the Government for approval.


The head of AVAS says all that paperwork was classified in 1972 and, in 2002, was re-classified in keeping with the new secrecy levels by Government decision. The documents should have been declassified on June 13, 2003. ‘The declassification has no legal bearing on any individual and cannot influence current economic relations in any way,’ Ursache said.


In 1999, Bancorex’s defaulted loans were taken over by the state and Banca Comerciala Romana (BCR) absorbed the rest of the bank’s operations.

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