Government loan for CFR Calatori

Newsroom 03/03/2014 | 10:48

The Ministry of Finances will grant a loan financed trought the Treasurery to CFR Calatori worth RON 579 million, due to be reimbursed on November 26. The rail transporter needs the money to pay its oustanding debts. CFR Calatori will also receive fuel from the state’s reserves.

The decision was authorized through an Emergency Ordinance. The fuel will be provided through public service account and 32.487 tons of fuel will be removed from state reserves under a free title.

The Government plans to help state companies in debt through funds drawn from the state budget, according to a press report from last week. Those that can’t be helped will be forced into insolvency or liquidated, with several candidates already on the list: Intervenţii Feroviare, Romavia and Servicii Energetice Oltenia.

The Executive also guaranteed in its letter of intent for the IMF to include in the target deficit a loan from the Tresorery for CFR Calatori, another attempt to reduce arrears. This loan will be written off as a budgetary expense, at the first budgetary correction for this year.