FRANKS
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Franks: Romania, World Bank Could Sign IMF-Like Deal In 2012
The World Bank could provide new aid to Romania in 2012 under a precautionary loan agreement to be accessed in case of emergency, similar to a financial program signed with the International...
IMF: Romania Central Bank Should Keep Reserve Requirements Unchanged
Romania's central bank should not lower its minimum reserve requirements imposed on commercial lenders in the following period to make sure it has sufficient buffer against potential difficu...
Franks: State Companies Belong To Romanian People, Government Must Ensure They Run Properly
Romanian state-owned enterprises ultimately belong to the Romanian people, so it is the Government's responsibility to ensure they are properly run and that their managers have the people's...
Franks, IMF: Would Have Waited A Few Months Before Slashing Rates
Romania's central bank could have waited a few more months to see if the disinflation process takes hold before lowering its main interest rate, Jeffrey Franks, head of the IMF mission to Bu...
IMF: Romania Needs Privatization, Private Management To Foil “Wise Guys”
The government needs to hurry privatizations and the appointment of private management at state-owned companies, to decisively change the system where a privileged few enjoy undeserved profi...
IMF: Romania May Raise Salaries, Pensions Slightly In 2012, If Things Go Well
Romania's Government has agreed with the IMF and EC to freeze public sector salaries and pensions, but to increase them slightly halfway through next year, if budget revenue allows, said IMF...
Franks, IMF: Romania Made Insufficient Progress In Dealing With Money-Losing Companies
Romania has fallen behind in honoring its commitments to reorganize the state-owned companies and these have begun to behave like a lead ball, pulling down the economy, an official of the In...
IMF: Romania Must Shield Itself From Financial Turmoil
Romania doesn’t need a full body armor against the international financial turmoil, but it should insulate itself well enough so it doesn’t become the next victim of the markets, an official...
IMF To Halve Romania’s 2012 GDP Growth Forecast On European Worries
The International Monetary Fund is likely to revise down its growth forecast on Romanian economy to around 2% in 2012, from 3.5% presently, due to deteriorating conditions in European market...