Romania sent fake info to the International Monetary Fund (IMF) in its latest letter of intent, about canceling restrictions to opening large retail centers, according to Mediafax newswire. The document including the allegedly fake info was approved by the IMF board.

The IMF and the European Commission asked Romania last year to cancel restrictions imposed on large retail centers, such as the requirement to ask for the approval of competitor shopping centers and an impact study before the final approval.

According to the 2004 legislation, stores of over 1,000 sqm need an approval from a special local commission, made up of local authorities' representatives, representatives of professional and union associations, as well as representatives of neighboring shopping centers.

Romania pledged to eliminate all restrictions by September last year, but had not done so, and a second deadline from the IMF and the EC was set for January 2012. Romania's Government would need to issue a Government Decision to enforce the new rules.

End – January 2012, a project ruling on this issue was launched for public debate, but the Government structure changed in February and a new ruling has yet to be approved and enforced. The April letter to the IMF mentioned the change had been made, with entry barriers for large stores having been removed.

editor@romania-insider.com

(photo source: Sprider Stores)