The Executive approved on Thursday, in a memorandum, the draft accord on the possibility of contracting a loan and/or a series of loans for development policies with the International Bank for Reconstruction and Development. The main areas of interes will be fiscal reform and the pension system reform, energy and transition to green economy. “Following the previous talks with IBRD, the first loan could be around 600 million euros, which will be decided while preparing the operation. The loan will be used to finance deficit and/or to refinance the public government debt and back the implementation of reform measures meant to ensure fiscal- budget sustainability. At the same time, the main areas of interest which may be the object of the Loan Program could be associated to objectives included in PNRR: fiscal reform and reform of the pension system, energy and transition to green economy,” the press release mentions. The Finance Ministry will carry out the necessary steps to request this financial assistance from IBRD, as well as crossing the other stages for contracting. “Loans granted by IBRD are competitive and more flexible than the other alternate financing instruments existing in the international market, contributing to limiting costs and extending the maturity of the public debt portfolio at an advantageous cost,” according to the press release.
Romanian president Nicușor Dan confirmed on August 20 that he is likely to pay an official visit to the United States early next year, provided preparations proceed as planned. A few days ago, foreign minister Oana Țoiu said that president Dan is expected to visit the United States and meet with president Donald Trump in the […]
European allies are pressing the United States to deploy F-35 fighter jets to Romania as part of future security guarantees for Ukraine, The Times reported, citing discussions among senior military officials. Romanian outlet
Romanian croissant producer Derpan SA has raised EUR 2 million through a private bond placement brokered by brokerage house Goldring SA, the company announced on August 20. The secured, euro-denominated bonds mature in 2030 and carry an annual coupon of 11%, Ziarul Financiar reported. ...
Romanian banks’ aggregated profit (EUR 752 million) and profitability ratios in Q2 remained around those seen in Q1, meaning slightly below the performance in the same period last year, according to data published by the National Bank of Romania (BNR). The non-performing loans (NPL) ratio, however, rose slightly to 2.8% at the end of June, […]
The Foreign Direct Investment Review Commission (CEISD) confirmed on August 20 that it had decided not to approve the transaction by which Hungarian state-owned MVM intends to acquire the gas and electricity supply division of E.ON Energie Romania. "Following the conclusions resulting from the detailed research procedure, CEISD decided to submit to the Supreme Council […]
Deputy prime minister Tanczos Barna stated on August 20, speaking for Digi24, that following the public administration reform included in the second package of fiscal measures, 40,000 positions in local and central administration will be abolished. The figure is not included in the substantiation note published by the Development Ministry along with the bill on […]
