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New IMF mission to visit Romania after mid-July

Romania has fulfilled the priority actions agreed upon with the International Monetary Fund (IMF), except for the Romanian Railways Freight Division CFR Marfa, the letter will be examined by the IMF Board of Directors in June and a IMF mission will visit Romania after mid-July, Public Finances Minister Daniel Chitoiu has told Agerpres.

'After the letter is approved by the Board in June, the IMF mission will come to Romania after mid-July. We have fulfilled all the priority actions pledged to the IMF, except for CFR Marfa, the deadline of which is June 21. We must have a winner for the (privatisation - editor's note ) of CFR Marfa by around June 20, all the other actions have been fulfilled- Transgaz listing (on the Stock Exchange), (curbing) the arrears, the procedures for listing Romgaz, Nuclearelectrica, for selling a 51 percent majority stake in Electrica, for listing a 15 percent stake in (power company) Oltenia by a capital increase,' Chitoiu explained.

'We are within the calendar pledged to the international financial bodies - the privatisation consultants and the legal consultants have been selected and the processes are currently under way, so as to achieve them in the second half of the year. I also mention the introduction of professional management at the companies, the recruitment teams for selecting the administration board of the majority state-owned companies have been selected, (we plan) to cut the state companies' arrears, cut the unfair contracts with the political clientele, assign the amounts for giving the vulnerable consumers subsidies, for raising the natural gas tariffs', he added.

'I think the future accord will be a precautionary one, we are not going to need money from the IMF, we borrow from the free market, from abroad and from Romania, at a very low yield and the lowest since 1990. We have no reasons to worry, if we close a fresh deal with the IMF it is not because we are likely to have difficulties in the future, but it is a guarantee that the economic reforms, the structural ones in particular, are being pursued with and will be coherent', the minister stressed.