Speaking at an economic conference in Bucharest, the IMF’s mission chief Jeffrey Franks said Romania’s progress in the field is insufficient.
The state companies should stimulate economic growth, not pull it down, Franks said.
A joint mission of the IMF, the European Commission and the World Bank will be in Bucharest until November 7 to review Romania’s progress under a EUR5.4 billion loan agreement signed in April.
Under the agreement, Romania pledged to restructure money-losing companies and sell minority stakes in a series of key players in the oil, energy and transport sectors, including OMV Petrom (SNP.RO), Tarom, Transelectrica (TEL.RO), Transgaz (TGN.RO), Romgaz, Hidroelectrica and Nuclearelectrica.
Additionally, the authorities in Bucharest have agreed to name private managers at 15 state-run companies.