AOAR takes up historical debts with IMF

The representatives of the Association of Business People in Romania (AOAR) suggested during their talks with the IMF delegation that the international financial institution should consider the possibility of “immediately and generally striking off” the historical debts of the trading companies. The step is supposed to be followed by the quick liquidation of those companies that failed to pay their current lawful debts within 12 months from the expunging of their historical debts. The business people also maintained the need to significantly reduce direct taxes, and especially the payroll taxes as of this year precisely. The losses incurred by the state budget should be compensated by upping the indirect taxes, they said. The AOAR specified the IMF thought the proposal to alleviate arrearage by having commercial receivables older than one year traded on the Romanian Commodities Exchange was realistic, as well. ZF