Finance Minister Sebastian Vladescu intends to ask the Government for a firm mandate to negotiate with Rompetrol-KazMunaiGaz to recover the debt in form of bonds worth almost 600 million euros that the company has to repay to the state in September.
"I don't have a mandate to negotiate yet, but I will ask the Government for such a letter. I want us to collect the money, not discuss rescheduling schemes," Vladescu stated.
Although in need of money, the Romanian Government has not provided an official position yet despite signals that Rompetrol has no intention to pay the entire debt on its due date.
The respective signals, however, are taken into account, as long as this year's estimated budget receipts include only half of Rompetrol's debt to the state, as confirmed by Vladescu.
According to the letter of intent to the IMF, the 2010 budget had initially estimated to collect 2.4 billion RON in non-fiscal revenues from the repayment of Rompetrol's debt, but "actual payment is uncertain".
The Government is already thinking of a "repayment schedule" as shown by the same document and anticipates negotiations with the debtor to be concluded before the next IMF review.
Finance Minister Sebastian Vladescu intends to ask the Government for a firm mandate to negotiate with Rompetrol-KazMunaiGaz to recover the debt in form of bonds worth almost 600 million euros that the company has to repay to the state in September.
"I don't have a mandate to negotiate yet, but I will ask the Government for such a letter. I want us to collect the money, not discuss rescheduling schemes," Vladescu stated.
Although in need of money, the Romanian Government has not provided an official position yet despite signals that Rompetrol has no intention to pay the entire debt on its due date.
The respective signals, however, are taken into acco
