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The Letter of Intent has been sent the IMF


Romanian Prime Minister Victor Ponta on Thursday denied off-the-record reports carried by the Bucharest-based news media that Romania allegedly asked for concessions from the International Monetary Fund (IMF) and he added all the prior actions will be achieved.

Ponta told RomaniaTV news channel that the Letter of Intent has been sent the IMF.

'It is an unhealthy custom of (quoting) off-the-record sources, so that we should only scupper ourselves. /.../ I am telling you, from a political viewpoint, that I've asked for no concession and, as far as I am aware, we will have all our prior actions achieved', he stressed.

The prime minister said the Government of Romania is not calling for the IMF to postpone its visit. On the other hand, when asked whether his Government will sign a fresh deal with the IMF, he underscored there is a procedure that must be followed and, given that Romania has below 3 percent deficit, the European Commission could consider the IMF deal is no longer necessary.

'These are two different things. Firstly, the IMF Board of Directors' meeting at the end of the month must approve the fact Romania has ended the precautionary accord well and afterwards we cannot go to the IMF, we must first go to the European Commission and the European Commission must give us permission that we should have a deal with the IMF, since we are a European Union member. /.../ But you might have a surprise now, because now the European Commission tells us 'OK, you have below 3 percent deficit, you have stability , so why would you go to the IMF?,' Ponta said.

According to a Letter of Intent that the national media received off the record, the Government has allegedly missed more than half the commitments made in the talks with the IMF, but it is asking the international lender for concessions.


Romania has not missed any target in regards with IMF Agreement (Minister Delegate Voinea)


Romania has not missed any targets in regards with the Agreement with the International Monetary Fund (IMF), Minister Delegate for Budget Liviu Voinea told Agerpres on Thursday.

'Romania's Government has 5 foregoing actions that, if not completed, it does not enter the IMF Board. Namely: the privatisation of 15 percent of Transgaz, which was done in April, the selection of a consultant for the privatisation of 15 percent of Oltenia Energy Complex, which was done in May, the reduction in the arrears of the local and central authorities, to 300 million lei and 20 million lei, respectively. We have not yet received these figures for the end of May. We shall see them next week. We are confident that we kept within these arrear targets, taking into account the trend until now and the measures taken. The selection of the tender winner in CFR Marfa [the fifth action] has the time limit set for June 21. We have not missed any target,' Voinea said.

According to him, the Fund's policy is not to make the letter public before the Board discussion.

'The Fund came here in January. This letter is a consequence of the Fund's visit in January. The Fund looked at what happened until December 31. The targets there, the fact that some were not fulfilled, all that refers to the situation until December 31. Meanwhile, Romania demanded a three-month derogation that it also received, from March to June. The Agreement was extended by three months. Why? To fulfil the remaining targets. It is not about any additional derogation from June onward. Romania does not request absolutely anything. After the visit of January, no letter was released. Why? Because there had not been any Board meeting of the Fund. The Fund's Board gathers now, at the end of June,' the Minister Delegate for Budget explained.

According to a document broadcast by the main press, the Government allegedly missed more than half of the commitments assumed in the negotiations with the IMF, but requests derogations from the financial institution.