Stiri	Stiri afaceri	Stiri companii	Evenimente de afaceri

Romania may receive EUR 360 mn from WB in January

Romania may receive an installment of 360 million euro, already postponed three times, from the World Bank in January as part of the accord with IMF, EU and other international creditors provided changes brought to the pension system are maintained, said Francois Rantrua, WB country manager, Mediafax informs.

The 360 million euro represent the second installment of the loan of 1 billion euro granted by the World Bank to Romania as part of the 20 billion euro financing accord established with the International Monetary Fund, the European Union and other creditors.

The installment is granted on condition the Constitutional Court observed reforms in the pension system, including the increase of the retirement age, Rantrua said in an interview for Bloomberg. The last installment of 340 million euro will be paid according to the progress of the law of unitary salaries, the WB representative added.

The law which establishes the retirement age, approved on 7 December in parliament was contested by the opposition with the Constitutional Court. A decision is expected this week. Considering the difficult political situation Rantrua said he was encouraged by what has been accomplished in Romania. Growing prospects are not the best in the area but nobody can get out of crisis with an excellent structural situation. Signs of getting out of crisis have appeared, he said.

Before making a decision about the last installment, the World Banl is analyses the budgets of the last six ministries. Once the process is over, WB will have an interesting suggestion for the government, the WB official added, without offering details.

On Tuesday the government assumed responsibility in Parliament for the law on unitary wages. WB is making evaluations of the functioning of 12 industrial sectors in Romania, including transports and agriculture and will present a detailed analysis with performance improvement recommendations at the next joint meeting of IMF, EU and other partner institutions in the loan accord, Rantrua said.

The next evaluation will probably begin on 20 January when Romania intends to open negotiations to extend the present loan by a preventive accord with IMF, premier Emil Boc said on Sunday.

There are economic sectors in need of more ample reforms, with a higher difficulty degree, which hire many people, many public officers, do not have enough money and are in competition with others. We will discuss necessary key measures and it is the government prerogative to announce these reforms, the country manager for Romania said.

Sursa: http://www.actmedia.eu

Tags: euro installment january romania

Articole similare