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March 23, 2023

Final version of IMF letter of intent adopted

The document will be sent today to the Board following approval by President Traian Basescu, PM Victor Ponta said.

At the start of yesterday’s government meeting, Prime Minister Victor Ponta confirmed that the final version of the letter of intent on the preventive aggrement addressed to the IMF will be adopted and the document will be sent today to the IMF Board upon approval from President Traian Basescu, Mediafax reports. The Chief of Executive added that he has requested the Parliament to present the main provisions stipulated by the new agreement in the Plenum of the two Chambers on Tuesday, September 17 at 5 p.m.
Prime Minister Victor Ponta stated at the end of Tuesday’s meeting with UDMR MPs that he would present the “guidelines” of the new agreement with the IMF, WB and EC the following week, and MPs will have access to the letter of intent, but the document cannot be made public. “I have made available the content of the letter. Although it will not be made public, I will provide Mr. Blaga and other political leaders with the letter in order to have more than press speculations as basis for our discussions (…) MPs will have access to the letter of intent”, Ponta said.
On the topic of a prospective 3 percent cutback of health insurance contributions, proposed by PNL, Ponta explained a decision in this respect would be made mid-October. “I have the budgetary impact drafted by Mr. Voinea with regard to the various submitted proposals. The cutback of the flat rate and health insurance contributions were discussed, among others. As soon as we have all necessary data, we will see where we can cut back from and add to before mid-October”, Ponta added. The Prime Minister stated recently that the only fee increases agreed upon with the IMF and EC as part of the new agreement are increasing excise taxes on luxury goods to compensate for cutting back the VAT for bread and health insurance contributions corresponding to rent incomes of natural persons.

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