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IMF communications director: Christine Lagarde’s visit to Romania should take place in mid-July

The managing director of the International Monetary Fund IMF Christine Lagarde (in picture) should arrive in Romania next month, said Gerry Rice, IMF’s Communications Director, during a recent press conference. However, the privatization of CFR Marfa railway freight transport company will not affect Lagarde’s visit to Romania.

“On that I would say those are two very separate issues. There’s the program review, which is ongoing in Romania. There are a number of issues being discussed and that’s very separate from the planned visit of Christine Large to Romania, which, indeed, should take place somewhere in mid-July, and we’ll get back to you with more specifics on that,” said Gerry Rice, when asked if a delay in the privatization of CFR Marfa would lead to the cancellation of Christine Lagarde’s visit.

During the visit to Romania, the managing director of IMF will meet the country’s president Traian Basescu and prime minister Victor Ponta.

The previous IMF director Dominique Strauss-Kahn came to Romania in 2010, and this is Lagarde’s first visit to Romania after taking the helm of the IMF. Lagarde, 57, took office in 2011, after having been Ministry of Finance in France for four years.

Grup Feroviar Roman, GFR, was declared winner in CFR Marfa’s privatization process, offering to pay EUR 201 million for 51 percent stake in the railway freight transport company. The winner also promised to make some EUR 204 million further investments in the company.

CFR Marfa is the largest railway freight carrier in Romania, with a turnover of EUR 261 million in 2011 and a loss of EUR 22 million.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: IMF)