Minister Popescu unaware of any energy issues with IMF

In spite of the statements made by Finance minister Mihai Tanasescu, who said the utility bill collection remained one of the top issues on the list of the talks with the IMF, the Economy and Trade minister says all the targets agreed upon have been attained.

“I would like to note the progress made by the national energy system. We have attained all the targets set in the agreements with the International Monetary Fund and the World Bank, we had a slight disparity in June when we focused our (electrical i.e.) power on coal. However, all targets have been attained and we told that to those at the IMF, too,” Economy and Trade minister Dan Ioan Popescu on Tuesday said during a press conference held at Electrica’s headquarters.

The statements contradict those repeatedly made by another Nastase Cabinet member, who is also involved in the talks with the IMF. It is about Finance minister Mihai Tanasescu, who says utility bill collection along with the rapid non-governmental lending growth are on top of the list of issues discussed. Furthermore, IMF demands steps taken to maintain the trend to discipline the clients of the energy sector. The arrears in the energy system had come to total 66,000bn ROL (more than $2bn) three months ago. Minister Popescu himself has admitted a number of times that these arrears tend to grow.

If it wants to conclude a new supplementary memorandum with the IMF, the Economy Ministry has to come up with another layoff plan for the energy sector, which should also include closing down a number of mines. It also needs to propose individual restructuring plans to lessen the arrearage, which entangles the large companies subordinated to the ministry. Romgaz, Termoelectrica, Distrigaz Nord, Distrigaz Sud or Electrica, all of them boast impressive arrears, as they have turned into a “bank for economic operators” at some point, as explained by Popescu. adrian.mirsanu@zf.ro