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Latest IMF mission to Romania: targets met but pace of reform and privatization must quicken

The International Monetary Fund (IMF) has concluded its latest mission the Romania and despite witnessing the dramatic collapse of the country’s shortest lived government, the IMF’s monitors have given a general thumbs up to Romanian compliance. All the stand by agreement criteria and economic targets were met, with the exception of central government arrears, which “was missed by a small margin,” according to the IMF.

Friday, May 11, 2012 - 11:48 view

La cuenta, por favor! Europa League final brings EUR 10 million to Romanian tourism

La cuenta, por favor! Europa League final brings EUR 10 million to Romanian tourismThe UEFA Europa League final in Bucharest on Wednesday evening ( May 9 ) brought the highest number of foreign tourists ever to the Romanian capital, some 25,000, who spent around EUR 10 million in the city, according to the Association of Tourism Employers in Romania.

Friday, May 11, 2012 - 11:46 view

Black market labor up in Romania, 2.3 mln people working without labor contract

There are more than 2.3 million people working unofficially for cash in hand, or working ‘black’ in Romania, up around 900,000 compared to 2008, representing more than a third of working people in Romania, according to the country’s Fiscal Council.

Friday, May 11, 2012 - 11:42 view

New Romania government led by Social Democrat Victor Ponta passes Parliament vote

The Romanian Parliament voted the new government led by Social Democrat Victor Ponta into office on Monday. Ponta's government, formed by the Social Liberal Union coalition of Social Democrats (PSD) and Liberals (PNL), replaces the Democratic Liberal-dominated government led by Mihai Razvan Ungureanu, who lost a censure motion in the Parliament in late April. Ponta's government received the support of 284 MPs, with 92 votes against.

Friday, May 11, 2012 - 11:41 view

Foreign debt was about EUR100 bln by end of 2011

The total Romanian foreign debt was EUR 98.4 bln or EUR 5,000 per capita, at the end of 2011, National Bank (BNR) chief economist Valentin Lazea told a press conference, according to realitatea.net.

Friday, May 11, 2012 - 11:18 view

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More than:

15.000

disbursed loans

RON 215.500.000

disbursed value

18.500

jobs sustained

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