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Bucharest
October 23, 2021
BUSINESS

IMF discusses Romania’s performance today

The Board of the International Monetary Fund (IMF) is today looking at its review mission report prepared after visits to Bucharest July 26 to August 4, Romanian representative at the institution Mihai Tanasescu sates, quoted by Agerpres. If the report is approved, the fifth EUR 900 M instalment of the EUR 12.9 bn assistance granted by the IMF to Romania. So far, the country has received almost EUR 10.7 bn from the IMF, EUR 2.5 bn from the European Union and EUR 300 M from the World Bank within the financial assistance package negotiated.


BUSINESSMEN REJECT NEW IMF DEAL, PROPOSE STRATEGIC INVESTMENTS FUND


The Businessmen’s Association of Romania (AOAR) does not back a new IMF loan, instead proposing the creation of a strategic investments fund worth EUR 5-7 bln through the issuance of state bonds tradable on the Bucharest Stock Market. The businessmen point out that the measure was successfully used in inter-war Romania and in 2008 in France. At the same time, the businessmen are asking the government to publicly and transparently take responsibility for a firm program concerning the payment of all debts owed by local and central public administrations towards the private sector. In this sense, AOAR proposes the modification of the Fiscal Procedure Code and the compulsory introduction of the calculation and unconditional payment of interest as a penalty for the state authorities’ late payment of debts owed towards private companies.

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