Unions and Govt don't agree on IMF letter; new meeting next week

The Romanian workers and companies' management unions, who representatives are part of the country's Economic and Social Council, have failed to agree on the measures the Romanian state has proposed as part of its agreement with the International Monetary Fund. The unions are asking for a new letter to be sent to the IMF. The council, made up by 15 government members and 15 unions representatives, has proposed changes to the letter, according to Mediafax newswire quoting sources in the meeting. The actual changes proposed were not mentioned. The CES will meet for another round of talks next Monday, May 25th. The Government has proposed a 15 percent cut in pensions, a 25 percent drop in the budget salary fund in order to meet the 6.8 percent budget deficit. The green light from CES was mandatory for the IMF letter to pass and for the lending process to continue. Romania expect two more loan installments from the IMF, which should come in June and September this year.