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Romania to cut budget costs by $1.9 bln in IMF deal

BUCHAREST, Romania Romania will curb spending by 5.5 billion lei ($1.9 billion) this year, in part through cuts in public pay, to meet its new budget deficit goal agreed with the IMF, Finance Minister Gheorghe Pogea said on Tuesday. Although the International Monetary Fund has allowed Bucharest to raise the …

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Bulgarian government to pen Kremikovtzi plan

A working group will be formed to work out ways to lift ailing steelmaker Kremikovtzi out of the doldrums while protecting to the utmost the interests of the state, workers and bondholders, a government media statement said. The announcement came after Bulgarian Prime Minister Boiko Borissov met representatives of bondholders …

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