Expats

Romanian court: Austerity cuts unconstitutional [Jun 25, 2010] A top Romanian court ruled Friday that sweeping austerity measures proposed by the government are unconstitutional, a move that will delay a crucial multibillion loan from the International Monetary Fund. International Monetary Fund - Government - Austerity - Romania - International [via YahooNews] More >>

Romanian court: Austerity cuts unconstitutional [Jun 25, 2010] BUCHAREST, Romania (AP) - A top Romanian court ruled Friday that sweeping austerity measures proposed by the government are unconstitutional, a move that will delay a crucial multibillion loan from the International Monetary Fund. [via YahooNews] More >>

(AFX UK Focus) 2010-06-25 10:12 INSTANT VIEW 4-Romania court rules some cuts illegal-agency [Jun 25, 2010] BUCHAREST, June 25 (Reuters) - Romania's Constitutional Court rejected some parts of a key austerity package related to pensions on Friday, endangering a vital IMF-led aid deal, local news agency Agerpres reported, citing judicial sources. Disbursement of about 2 billion euros in aid from the International Monetary Fund and the European Union depended on the court's approval of a government move ... [via YahooNews] More >>

Romanian court: Austerity cuts unconstitutional [Jun 25, 2010] A top Romanian court ruled Friday that sweeping austerity measures proposed by the government are unconstitutional, a move that will delay a crucial multibillion loan from the International Monetary Fund. [via YahooNews] More >>

(AFX UK Focus) 2010-06-25 09:40 Romania court rules some cuts illegal - agency [Jun 25, 2010] BUCHAREST, June 25 (Reuters) - Romania's Constitutional Court rejected some parts of a key austerity package related to pensions on Friday, endangering a vital IMF-led aid deal, local news agency Agerpres reported, citing judicial sources. The court said an official announcement would follow shortly. Disbursement of about 2 billion euros in aid from the International Monetary Fund and the ... [via YahooNews] More >>

Romanian Premier to Seek Confidence After IMF Letter (Update1) [May 20, 2010] May 20 (Bloomberg) -- Romanias government will seek a confidence vote in parliament after it signs a letter to the International Monetary Fund on May 26 outlining austerity measures it plans to take, Prime Minister Emil Boc said. [via YahooNews] More >>

Statement by IMF Mission Chief for Romania [May 11, 2010] A joint mission from the International Monetary Fund (IMF), the European Commission (EC), and World Bank (WB) visited Bucharest from April 27 to May 10 to review Romanias program. [via YahooNews] More >>

(AFX UK Focus) 2010-05-10 17:26 Romania broadly meets aid terms, EU says [May 10, 2010] BRUSSELS, May 10 (Reuters) - Romania has broadly met conditions for aid from the European Union but needs to make further progress on fiscal reforms, the European Commission said on Monday. The EU executive's comments follow a joint mission to Bucharest by the EU and International Monetary Fund which extended a 20-billion-euro ($26.83-billion) aid package to Romania last year. "Taking into ... [via YahooNews] More >>

Market Commentary and Intraday News [May 10, 2010] (AP:BUCHAREST, Romania) Romania's economy may contract by as much as 0.5 percent this year and the government will have to cut spending "drastically" to keep the deficit down, the International Monetary Fund said Monday. [via YahooNews] More >>

(AFX UK Focus) 2010-05-06 10:08 IMF says prolongs review of Romania's aid package [May 06, 2010] BUCHAREST, May 6 (Reuters) - The International Monetary Fund will prolong a review of Romania's 20 billion euro rescue deal in Bucharest by two days to May 9, it said on Thursday. "The fourth IMF review mission ... will continue working with the Romanian authorities during the weekend May 8-9," said Tonny Lybek, IMF's representative in Romania and Bulgaria. "The mission is expected to ... [via YahooNews] More >>

IMF mission arrives in Bucharest [Apr 26, 2010] Representatives of the financial institution are preparing the fourth report on Romanias economic programme. A mission from the International Monetary Fund arrives in Bucharest today to evaluate whether the terms committed upon in the stand-by agreement have been met. [via YahooNews] More >>

(AFX UK Focus) 2010-03-30 11:32 UPDATE 1-Romania may ask for more IMF assistance - report [Apr 01, 2010] (Adds more details, IMF deal, comment, currency) BUCHAREST , March 30 - Romania will probably ask for a flexible credit line or a standby assistance deal with the International Monetary Fund after its current deal expires, President Traian Basescu was quoted as saying on Tuesday. [via YahooNews] More >>

IMF supports Romania's economic recovery efforts (People's Daily) [Mar 31, 2010] The head of the International Monetary Fund (IMF) said Tuesday the agency was helping Romania to recover from its ongoing financial crisis. IMF Managing Director Dominique Strauss-Kahn, who is in Romania for a brief visit, said: "We are helping to put a country like Romania, which has a lot of opportunities, back on track to take advantage from those opportunities, and we want to protect the ... [via YahooNews] More >>

(AFX UK Focus) 2010-03-30 11:32 UPDATE 1-Romania may ask for more IMF assistance - report (Interactive Investor) [Mar 30, 2010] (Adds more details, IMF deal, comment, currency) BUCHAREST, March 30 - Romania will probably ask for a flexible credit line or a standby assistance deal with the International Monetary Fund after its current deal expires, President Traian Basescu was quoted as saying on Tuesday. [via YahooNews] More >>

IMF Managing Director Dominique Strauss-Kahn to Visit Poland and Romania (IMF) [Mar 25, 2010] Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), will visit Warsaw, Poland, on March 29 and Bucharest, Romania, on March 30, for meetings with the authorities about recent economic developments as well as discussions with business leaders, parliamentarians, students and others about the economic and political transition of Central and Eastern Europe over the ... [via YahooNews] More >>

(AFX UK Focus) 2010-03-25 14:10 UPDATE 1-Romania 2-mo govt deficit jumps to 1.1 pct/GDP (Interactive Investor) [Mar 25, 2010] BUCHAREST, March 25 (Reuters) - Romania's consolidated budget deficit jumped to 1.1 percent of gross domestic product at the end of February, raising pressure on the government which must meet a quarterly cap agreed with international lenders. Under Romania's 20 billion euros aid package led by the International Monetary Fund, the European Union state has committed to slash its budget shortfall ... [via YahooNews] More >>

(AFX UK Focus) 2010-03-23 20:16 Romania may see growth in 2nd qtr-economy minister (Interactive Investor) [Mar 24, 2010] BUCHAREST, March 23 (Reuters) - Romania could see small quarterly growth in the second quarter of this year, supported by higher industrial output, Economy Minister Adriean Videanu said on Tuesday. His comments support estimates made earlier this year by the International Monetary Fund, which revived the European Union state's 20 billion euros aid package last month. Data released earlier this ... [via YahooNews] More >>

(AFX UK Focus) 2010-03-23 20:16 Romania may see growth in 2nd qtr-economy minister (Interactive Investor) [Mar 23, 2010] BUCHAREST, March 23 (Reuters) - Romania could see small quarterly growth in the second quarter of this year, supported by higher industrial output, Economy Minister Adriean Videanu said on Tuesday. His comments support estimates made earlier this year by the International Monetary Fund, which revived the European Union state's 20 billion euros aid package last month. Data released earlier this ... [via YahooNews] More >>

Romania?s Rating Outlook Raised to Stable at S&P (Correct) (Bloomberg) [Mar 10, 2010] (Corrects fifth paragraph to show zloty is best performer.) March 10 (Bloomberg) -- Romania?s credit rating outlook was raised to stable at Standard & Poor?s after the International Monetary Fund resumed a bailout loan to the country and the government passed an austerity budget. [via YahooNews] More >>

Romania?s Rating Outlook Raised to Stable at S&P (Update1) (Bloomberg) [Mar 10, 2010] March 10 (Bloomberg) -- Romania?s credit rating outlook was raised to stable at Standard & Poor?s after the International Monetary Fund resumed a bailout loan to the country and the government passed an austerity budget. [via YahooNews] More >>