Romania Needs Privatization, Private Management To Foil “Wise Guys” - IMF - financiare.ro
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News » November, 2011 » 7 November 2011

Romania Needs Privatization, Private Management To Foil “Wise Guys” - IMF
07.11.2011, 17:07 | Economy | 1068 views



The government needs to hurry privatizations and the appointment of private management at state-owned companies, to decisively change the system where a privileged few enjoy undeserved profit, says Jeffrey Franks, head of the International Monetary Fund’s delegation to Romania.

We need to permanently remove a system where the public and private sector wise guys enjoy undeserved profit, while their employees and the public pay for these inefficient activities," Franks said Monday.

The IMF official added local authorities have shown the determination to hurry privatizations and the appointment of private management at state-owned companies, but more action is required, as well as the completion of legal amendments by the end of the year.

Read more on Mediafax.ro




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