IMF, Romania Agree On Pension, Fiscal Responsibility Bills - Official

The International Monetary Fund and the European Commission have reached an agreement with the Romanian authorities on the content of the bills on public pensions and fiscal responsibility, IMF mission head Jeffrey Franks said Tuesday.

The parties have also set a calendar for the adoption of the two draft laws, Franks added, without giving a specific date.

He said the IMF will set a series of targets for the Romanian authorities to better control the deficits of large state-run companies, which are already monitored under the loan agreement.

Franks didn't say what the targets will be.

Teams of the IMF, the World Bank and the European Commission arrived in Bucharest January 20 to review the Romania's performance under a EUR20 billion bailout loan.

The international institutions are widely expected to unlock new tranches totaling EUR3.3 billion from the loan, which was put on hold in October last year due to political instability.

mediafax.ro