US to help Romania collect its debts

Romania will get US’ support to collect its debts from Iraq and have its companies participate in the Iraq reconstruction projects, Public Finance minister Mihai Tanasescu said. The minister early this week discussed about Romania collecting its debts from the Iraqi government with the US Department of Treasury Under Secretary John Taylor. The authorities in Bucharest estimate the receivables to total about $1.7bn. “The US officials said there is a window of opportunity for the Romanian companies that want to participate in reconstruction projects in Iraq along with US companies. It is also very clear that Romania will be one of the countries that will get support from the US to recover their commercial debts from Iraq,” Tanasescu said. He added he had presented the US Government representatives a list of 35 Romanian companies dealing in various industries, such as oil, energy and constructions, which have the necessary capabilities to carry out projects in Iraq. The Romanian officials also proposed to have Romania participate in the administrative reform in Iraq, considering its market economy transition expertise. Mediafax