• 4 minutes "Natural Gas Trading Picks Up Considerably Amid High Volatility" by Charles Kennedy - ...And is U.S. NatGas Futures dramatically overbought at the $6.35 range?
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 7 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days Revisiting: "The U.S. Grid Isn’t Ready For A Major Shift To Renewables" from March 2021 by Irina Slav at OILPRICE
  • 12 hours What China is Learning from Russia's War in Ukraine and its Consequences
  • 5 days How cheap Chinese tires might explain Russia's 'stalled' 40-mile-long military convoy in Ukraine
  • 1 day Failure To Implement Russian Oil Ban Could Send Oil Crashing To $65
  • 3 days Natural Gas is the Cleanest and most Likely Source of Energy to Fuel the World.

IMF Unhappy with Romania's State-Owned Companies Management

The sluggish reforms in Romania’s state-owned and run companies have raised tensions with one of the country’s main international financiers, the International Monetary Fund.
Following a meeting with a visiting IMF delegation, Blocul National Sindical trade union Chairman Dumitru Costin candidly told reporters, "The representatives of trade unions and of the IMF have found that there is a tendency to postpone the modernization of the state-owned companies."
 
Costin added, "This is not the right moment for privatization. The priority should be given to the depoliticization of the management of those companies, but the government postpones the privatization of state companies' management, because the electoral campaign is getting near, and the 'hen that lays the golden eggs' needs to be politically controlled," Romania’s Jurnalul National newspaper reported.
 
The International Monetary Fund representatives stated that their organization is not satisfied with the government’s sluggishness in its proposed plan to appoint private managers to state-owned companies and stressed the need for quicker and more radical action on the issue.

As a trade union representative, Costin has continued to dig in his heels over the IMF demands.
 
Citing the case of the Romanian Post newspaper Costin said, "We cannot talk about modernization, we can only talk about personnel layoffs. Some 3,000 people will take to the streets in two weeks to protest against this fake type of reorganization."

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News