IMF will be back

Talks over a new agreement with the International Monetary Fund to be probably signed for one year will begin on November 5, when an expert mission from Washington is due to arrive in Bucharest. IMF’s Negotiator for Romania, Neven Mates, should be in Romania throughout November 10-20, a visit expected to result in a decision on the next type of co-operation with the Fund. “We already have our own economic programme we will discuss with the Fund’s representatives,” Finance minister Mihai Tanasescu says. The negotiation issues include speeding up privatisation and restructuring in the energy sector, proceeding with the privatisation of Petrom, strict wage control in the state-run companies and improving utility bill collection. The Government also plans to discuss with the Fund’s representatives about ways to fund infrastructure investment projects. “IMF’s role in Romania will decrease substantially between 2005-2006, as we’re getting closer to the time of EU accession. It will probably close its resident mission in Bucharest in 2006,” Tanasescu said. ZF