An International Monetary Fund mission, led by Jan Kees Martijn, the head of the IMF mission for Romania, will be in Bucharest September 25 - October 4, 2023, for an annual consultation under Article IV of the IMF's Articles of Agreement.According to the IMF, such discussions take place regularly with all IMF member states.The IMF mission will discuss economic policies in meetings with officials of the Ministry of Finance, the National Bank of Romania and other government agencies, according to an IMF press release signed by the bank's Senior Regional Representative for Central, Eastern and South-Eastern Europe Geoff Gottlieb. At the same time, the IMF staff will meet representatives of the private sector and non-governmental organisations.At the end of the visit, the IMF mission is expected to hold a news conference.Under Article IV of the IMF's Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country's economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.At the conclusion of the discussion, the managing director, as chairman of the board, summarises the views of executive directors, and this summary is transmitted to the country's authorities.
The total number of recipients of social benefits for retired persons was, in October 2024, 925,865 – 2,322 lower compared to the previous month, according to the data provided by the National Public Pension House (CNPP) and quoted by Economica.net. Of these, 832,693...
The team of Kosovo abandoned during the stoppage time in the 92nd minute of the football match against Romania in Bucharest counting for the Nations League, accusing the Romanian fans of "racism" after the later sang Serbia-related chants. The Romanian team remained on the pitch for 74 minutes until the referee decided to put an […]
One week before the first round of the presidential elections in Romania and two weeks before the parliamentary ballot, the leader of Romania's junior ruling Liberal Party (PNL) and a presidential candidate, Nicolae Ciucă, took one more chance to argue vocally that only his party can send the senior ruling Social Democratic party (PSD) and […]
International rating agency Moody's has affirmed the ratings assigned for the first time in 2023 to Romanian financial group Banca Transilvania (BVB: TLV) and improved the outlook on the long-term deposit (Baa2) and issuer ratings (Baa3) to positive from stable. Low dependence of market funding and high profitability balances against risks posed by foreign currency […]
The number of dissolved companies in Romania increased by 6.9% year-on-year in the first nine months of 2024, reaching 30,094, up from 28,146 in the same period last year, according to data from the National Trade Registry Office (ONRC). Bucharest recorded the highest number of dissolutions at 6,184, marking a 5.4% y/y increase,
Rompetrol Rafinare, a KMG International Group (Rompetrol) member company, announced it recorded in the first nine months of 2024 a gross turnover of USD 3.57 billion and an operational result (EBITDA, an indicator that measures the company's profitability before deducting depreciation, interest, fees, and taxes) of about USD 125 million. The financial results were impacted […]
