Traian Basescu yesterday announced that he approved the Memorandum which supports the Letter of Intent to the International Monetary Fund. He said during the investiture ceremony of the new Cabinet that he hopes that the arrangement with the Fund, by the measures it involves, will improve Romania’s competitiveness which is still the major issue, especially within state-owned companies....more »

The new ministers who have been proposed by Prime Minister Victor Ponta to be part of the reshuffled government may be invested today in the afternoon, following the Parliament’s vote. Currently, the Specialized Committees are hearing them and provided they get the required approvals they will go into the Parliament to be voted by the MPs....more »

The Social Liberal Union, USL, broke following yesterday’s decision of the Liberal wing of withdrawing from the governing alliance. The Permanent Delegation of the National Liberal Party, PNL, met Tuesday evening when adopted a resolution to support the Liberal ministers’ withdrawal from the Romanian Government given the crisis which has sparked inside the union and lead to bitter disputes amongst its leaders....more »

Following Daniel Chitoiu’s resignation, further changes within the Government have been announced earlier today by PNL’s leader, Crin Antonescu, who announced at the end of the Party’s Standing Bureau meeting that four Liberal ministers will be replaced....more »

Crin Antonescu, Head of the Senate and President of the National-Liberal Party, yesterday announced the resignation of Daniel Chitoiu, Minister of Public Finance, during a press conference, attended by the latter as well....more »

The Government will enforce all the measures undertook through the letter of intent and the economic memorandum concluded with the foreign financiers – the International Monetary Fund, the European Union and the World Bank, whether or not Traian Basescu will sign or not these documents, Prime Minister Victor Ponta announced, quoted by Agerpres...more »

Basescu reconfirmed his position against the introduction of the excise duty on fuel during this morning meeting with the IMF delegation, as previously announced. However, the Romanian President said that despite not supporting the Government’s decision on introducing a new 7 eurocents tax, he will not obstruct the arrangement between the Executive and the International Monetary Fund, yet he should not be expected to sign the agreement....more »

As Romanian Prime Minister, Victor Ponta, announced, the Government eventually approved the Decision supporting the memorandum with Rompetrol signed last February 15 at Bucharest. Through this resolution, the litigations between the Ministry of Finance and The Rompetrol Group N.V. end in an amicable and mutually advantageous way, according to a Government informing....more »

Romanian Prime Minister, Victor Ponta, says that the Government Decision supporting the Rompetrol Memorandum has been completed in accordance with the comments made by the Ministry of Finance and the Ministry of Justice and is going to be approved today, Mediafax informs. This decision was expected last week, yet the Government delayed its ratification....more »

A new Mission of the International Monetary Fund pays a visit to Bucharest as from today until February 5 in respect to the 2 million worth precautionary arrangement approved last year in late September. The IMF delegates will discuss on the first and second assessment of the agreement with Romania, Guillermo Tolosa, the IMF representative in Romania and Bulgaria, said, according to Agerpres....more »