IMF
Warns of
Romania Fiscal
Gap, Heads to
Ukraine June
24, 7 Qs
UNanswered
By
Matthew
Russell Lee
UNITED
NATIONS, June
19 -- What is
the
International
Monetary
Fund's
response to
Romania's plan
to cut
required
social
contributions
by
employers by
five percent
later this
year? Inner
City Press
asked
this and seven
other
questions on
June 19, and
got this
response from
IMF
spokesperson
Gerry Rice:
“We
share the
objective of
reducing the
high tax
burden on
labor in an
effort to
stimulate
jobs, however
the announced
cut of the
social
security rate
by five
percentage
points creates
a fiscal gap
and will
make it
difficult to
reach the
fiscal target
in 2015.
Offsetting
measure need
to be
identified.”
The
answer is
appreciated --
Inner City
Press covers
Romania and
the IMF, for
example here
-- but this
similar
question on
June 19 by
Inner City
Press
on Slovakia
has yet to be
answered, by
the embargo
time:
On
Slovakia, what
is IMF's
response to
Finance
Minister Peter
Kazimir
insisting the
government
will base its
decision-making
on Slovak
legislation
stating that
the VAT rate
should be
reduced
automatically
when the
public-finance
deficit falls
below three
percent of
GDP?
Six
other
questions
remain
unanswered,
including the
now-perennial,
does
the IMF
include
Western Sahara
in its data
for Morocco:
On
Morocco, can
you confirm
what central
bank governor
Abdellatif
Jouahri has
said, that a
new two-year
line of credit
is being
finalized and
will “be less
than $6.2
billion
granted by the
fund
in 2012-2014”?
And again, is
Western Sahara
included in
the IMF's
Morocco data?
(As submitted)
In
Yemen, in
light of
attacks on
power plants
and pipelines,
what is the
status of the
IMF's $550
program and
its
conditions? Is
there a
concern the
cuts to
subsidies
could lead to
further
unrest?
In
Myanmar, does
IMF believe
the country is
ready for the
opening of
foreign
financial
institution,
while
governance of
the Central
Bank
of Myanmar
continue to
fall under
Myanmar's
outgoing
central
banking
law, dating to
1990?
In
Ukraine, does
IMF have any
comment on US
giving $10
million to
Kyiv
for
anti-corruption
programs? Does
the IMF have
any view of or
comment on
President
Poroshenko
asking
Parliament to
replace
central
bank chairman
Stepan Kubiv
with
investment
banker Valeria
Gontareva,
who has no
government or
regulatory
experience? In
terms of
central
bank
independence,
and in light
of the IMF's
program with
Ukraine?
This
last was
partially
answered; and
the next IMF
mission to
Ukraine
started June
24 in Kyiv and
goes for two
weeks. Watch
this site.