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January 24, 2022

IMF letter of intent, passed only with CES nod

The government will not pass the letter of intent to the International Monetary Fund and the included austerity measures without approval from the Economic and Social Council (CES), Prime Minister Emil Boc’s adviser on economic issues, Andreea Paul-Vass said yesterday, quoted by Agerpres. When asked whether the government might go ahead with the measures even if CES did not reach an agreement on the matter, the aide said both the prime minister and President Traian Basescu insisted that the letter would not be passed without CES’s nod. On Monday, CES members – government, unions and employers, failed to reach consensus over the austerity measures and asked the government to come up with a new letter of intent to the IMF, so as to include their own proposals to help curb budget expenses. Vass explained yesterday that the IMF letter has to be sent in a week and if unionists and employers plan major amendments, the Fund’s delegation might be called back for new negotiations.

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