Eurasia

Romania vows to proceed with austerity measures

Romanian Prime Minister Emil Boc said on Wednesday (May 26th) that his government has no intention of giving up its austerity measures, despite public opposition and a confidence vote planned for next week. The measures envision slashing public sector wages by 25% and reducing pensions by 15%. The decision to proceed …

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IMF, Serbia agree on fourth loan revision

Representatives of Serbian government and the International Monetary Fund, IMF, have reached agreement on the fourth review of the country’s stand-by arrangement, which will enable Serbia to draw down €380 million. Addressing reporters on Wednesday, Serbian Minister of Finance Diana Dragutinovic said that due to slowed economic growth in Serbia, …

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