Thursday, February 3, 2011

IMF Asks Romania to Sell Minority Stake in Tarom, Mediafax Says

The International Monetary Fund asked the Romanian government to sell a minority stake inTarom SA, the state-owned airline, as part of an effort to cut the country’s budget deficit,Mediafax reported, citing unidentified people familiar with the matter.

An IMF mission reviewing Romania’s bailout is in talks with the government about an agreement to replace the one that expires in April; it asked the administration to sell, reorganize or close state companies, the news service said, citing unidentified officials.

To contact the reporter on this story: Irina Savu in Bucharest at isavu@bloomberg.net.

To contact the editor responsible for this story: James M. Gomez in Prague atjagomez@bloomberg.net.

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