IMF mission extends stay in Romania till May 9Publish date: 07-05-2010
The fourth visiting mission of the International Monetary Fund (IMF) that is currently assessing the way Romania fulfilled the conditionalities of the Stand-By Agreement will extend its stay in Bucharest until May 9, informs a release by the chief of the IMF Office for Romania and Bulgaria, Tonny Lybek.
A statement issued by Tonny Lybek on April 19 announced that the IMF mission would be in Bucharest between April 27 - May 7. The Romanian authorities and the IMF are weighing several options to cover the budget deficit, which, according to unofficial sources, include increasing the VAT to 22 percent and the flat tax to 20 percent or putting up the flat tax to 20 percent and keeping the VAT at 19 percent.
According to sources close to negotiations, the Romanian authorities and the IMF mission are negotiating a budget deficit of 6.3 - 6.5 percent of the GDP for 2010, but still have to agree on the budget gap that needs to be plugged in by collection boosting/expenditure cutting measures.
- Insurance market stagnated in 2013 while GDP chare dropped to 1.3%
- The Romanian Leasing Market as of December 31, 2013
- Millennium Bank reports best results since its launch, helped by stronger banking income and cost cuts
- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
- GarantiBank and Seamless introduce SEQR in Romania: the newest mobile payment solution
- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
- Millennium Bank cards offer discounts in Domo stores
- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
- Eurozone in recovery mode but gap between North and South still widening
- UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration
- Millennium Bank grants First House loans in lei