IMF approved the fifth review of the agreement with Romania and a tranche of 475 million euros - positive news ROMANIA

Board of the International Monetary Fund (IMF) approved on Friday the fifth revision of the agreement with Romania preventive and concomitant dismissal of another 475 million euros of the total amount of 3.5 billion euros.
The fifth review was last conducted by American Jeffrey Franks, who will be replaced this summer by Dutchman Erik the Vrijer.
The main commitment of the agreement is the introduction of private management and partial privatization of state companies, in particular by listing on exchanges, or vânazarea the majority shareholding.
The Romanian government agreed with the IMF to conduct public offerings for 15% of Transgaz until June 15, 15% of Romgaz until mid-September, 10% of Hidroelectrica until mid-October, and to expedite preparations for the sale of 10% Nuclearelectrica the titles later this year. The objective of selling stock to Hidroelectrica can not be achieved within the prescribed period after the company into insolvency.
However, 20% of Tarom actions would be publicly traded by the end of year time limit for disposal of the majority stake in CFR Marfa, according to the letter of intent agreed with the IMF.

 Government is further committed to sell, until the first half of next year, a majority stake in Electrica and minority-owned stakes in Electrica branches already privatized.
Also in the first half of 2013, the government will privatize the new producer of energy to be formed by July 2012 by merging the power Paroşeni mind and my four viable National Coal Company.
The term was established for the privatization of the new EC Oltenia energy producer, created in mid-May through merger Craiova energy complexes, Rovinari and Turceni. ELCEN Bucharest would also be privatized in 2013.