Business Services Industry
ROMANIA: IMF CRITICAL OF ROMANIA'S ECONOMIC PERFORMANCE.(particularly privatization and inflation)(Brief Article)
IPR Strategic Business Information Database, September, 2000
IMF chief negotiator for Romania Emmanuel Zervoudakis told journalists on 13 September, at the end of a two-week visit to Romania, that the government is still moving too slowly in privatizing state-owned companies and has failed in its pledge to curb inflation, RFE/RL's Bucharest bureau reported.
This year's inflation rate is expected to be around 40 percent instead of the 27 percent pledged by the government. The IMF is to decide whether to release the next tranche of a $540 million loan but the decision will be postponed until after a meeting between cabinet members and IMF representatives in Prague in September. Zervoudakis also said that Romania has made little progress in reducing debts between state-owned companies and has seen an "unjustified increase in...
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