Debt-freezing vs. no new arrears

Public Finance minister Mihai Tanasescu on Tuesday said the Government was working with the IMF team on the project to restructure 91 state-run companies that would be granted aids from the state if they did not accumulate any new arrears in the near future. Tanasescu added another condition for the programme was to be viable, carried out for the last time and produce effects. “The Competition Council stated its point, which we share, too. They said that the restructuring programme had to be viable, conducted for the last time and produce effects, i.e. prevent arrears from piling again in the near future. The Competition Council said it agreed to the state-granted aid, but only under these terms. We are working with the IMF team on this restructuring programme, which is to be completed soon,” the Finance minister specified. The Finance Ministry will devise a new ordinance draft to freeze the debts to the state of 91 state-run companies and use the Competition Council recommendations for it. ZF