Part of the precautionary agreement Romania signed with the IMF is that state owned companies should be managed by foreign managers, one newspaper reads on Tuesday. Romania might return up to 1.5 billion euro of EU pre-accession funds if it does not finish projects by the end of the year. In politics today, an expensive contract with a survey institute dissatisfied PSD members across the country. The former European Capital of Culture, Sibiu is the only city in Romania to benefit from a study of the tourism phenomenon in the last ten years. Last but not least, the number of questions at the Bucharest referendum will drop to three or four.
Romania libera reads that after years of naming directors on political grounds, the IMF demands to the government to appoint qualified managers for state owned companies drown in debt. The managers have to come from the private sector, irrespective whether they are Romanians or foreigners.
HR expert Bogdan Belciu declared for the newspaper that qualified managers are not hard to find. He said that what will be important is the offer and work terms: new managers should be allowed to select their own team and be well paid. This is just one of the measures imposed by the IMF to the Romanian government in an attempt to decrease debts of state owned companies.
Other measures include restructuring or the option of the state to sell a minority of shares to the private sector.
Romania might return 1.5 billion euro of EU pre-accession funds unless it finishes its projects by the end of the year, Gandul reads quoting IMF representative Jeffrey Franks as he presented the results of the first evaluation of the precautionary agreement.
The government has made progress in using EU funds but the progress is insufficient and efforts need to be doubled, Franks said. All these EU projects we
