News » March, 2011 » 28 March 2011
New 3.5bn-euro IMF arrangement has been approved
28.03.2011, 13:44 | Finance-Banks | 1031 views
The new two-year precautionary arrangement with Romania, which starts on March 31st, has received the green light from Washington on Friday, and is set to focus on stimulating the economy by means of structural reforms and by improving infrastructure. The biggest problem is that of arrears of state-owned companies, which are much higher than government arrears, according to Jeffrey Franks, chief of the IMF mission to Romania. He told Mediafax that Romania would come out of recession at the end of March, and that economic growth would pursue an upward trend from one quarter to the next. Read more on ZF.ro
|
Latest news in category Finance-Banks
NBR governor Mugur Isărescu apparently ignores the fact that banks are refusing to negotiate with their customers and insists, after the passing of the law of giving in payment, that the parties of the loan agreement should negotiate: "Negotiation is the basis of the functioning of the market economy, in the European Union, because that is where we are living. Romania was and has been a loyal partner to the European project and we should not forget that". read more...
The European Central Bank (ECB) pursues its mandate and defends its independence, according to statements of the president of the institution, Mario Draghi, who responded yesterday, to some criticisms coming from several German officials concerning the lax monetary policy of the ECB. read more...
The British pound yesterday saw the biggest decline against the dollar since March 2009, after London mayor Boris Johnson, one of the most popular politicians in the country, said he would start a campaign in favor of the United Kingdom leaving the European Union (Brexit) in the referendum scheduled in June. read more...
|
|
