Making 74,000 redundancies in the public sector until the end ofthe year and a further 15,000 in 2011, the immediate payment of 1.9billion RON in debts to the pharmaceutical sector, and droppingsalary cuts for BNR (National Bank of Romania), CSA (InsuranceSupervisory Commission), CNVM (National Securities Commission), andCSSPP (Private Pensions Supervisory Commission) are the main newcommitments taken by the Government to the IMF.
In a conference in which he commended the Romanian authoritiesfor implementing ambitious fiscal consolidation measures, JeffreyFranks, chief of the mission in charge of reviewing the arrangementwith Romania, said he did not recommend modifying the tax systemnext year or cutting the current taxes.
The IMF board is set to release the next 914 million-eurotranche at the end of September, after the authorities have met theset preconditions, among which the payment of 1.9 billion RON instate arrears.
Franks said reform of the pensions sector and implementation ofunitary pay legislation, which needs to be adopted by Parliament inSeptember, are "critical".
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