Stiri	Stiri afaceri	Stiri companii	Evenimente de afaceri

A joint mission of the IMF, EC and WB comes to Romania at the end of July

A joint mission of the International Monetary Fund, the European Commission and the World Bank will come to Bucharest between 20 July and 1 August for the second evaluation of the stand-by agreement, precautionary type, a press release of the IMF says.

The officials of the international institutions will meet the authorities and the representatives of political parties, trade unions, business environment, banks and civil society.

'A mission of the IMF led by Jeffrey Franks will be in Bucharest between 20 July and 1 August for the second evaluation of the stand-by agreement precautionary type with Romania. The IMF visit will be joint with teams on the part of the European Commission and the World Bank' Tonny Lybek, regional representative IMF for Romania and Bulgaria said.

The precautionary agreement lasts for two years and is worth approximately 3.6 billion euro ( representing approximately 300% of the share Romania has with IMF) but the authorities announced that they have no intention to use the money unless in case of emergency.

It will develop simultaneously with a new precautionary agreement with the EU, worth 1.4 billion euro, as well as with a loan of 0.4 billion euro from the World Bank.

'The new programme includes reforms in the domains of energy and transports, including reforms in establishing tariffs, improvement of regulations in these sectors and the restructuring and privatization of state enterprises' John Lipsky said at the end of March, as first deputy general manager of IMF.

The reform in energy and transport will be made with the help of the World Bank and the European Union. The agreement includes the problem of state companies, especially those in the domain of energy and transport. 'The idea is that both sectors start to function more efficiently, which will be reflected later in the other domains and will make them more competitive. As IMF has no expertise in these domains, we will rely on our colleagues from the European Commission and the World Bank to establish all details' the head of the IMF mission for Romania Jeffrey Franks said, interviewed by the online publication edited by the Monetary Fund.

Another problem is that of inefficiency of public expenditure. ' At present, public expenditure is affected by the inefficiency and were used under 3% out of the 19 billion euro of structural funds available for Romania. We have to make sure that Romania puts to value these funds in the future' Franks said.

Sursa: http://www.actmedia.eu

Tags: agreement world romania joint mission euro

Articole similare