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EBRD, IFC officially complain about Romanian Gov’t plans on planned banking taxes

Two major international development banks, the European Bank for Reconstruction and Development and the International Finance Corporation (part of the World Bank), have officially complained to the Romanian Government about proposed new banking sector taxes, Reuters reports in an exclusive article.

In a less usual action, the London-based EBRD and IFC, have sent a joint letter to Bucharest officials on February 1, highlighting their concerns about the new plans regarding the banking system. The letter has been confirmed to the above-mentioned source by a EBRD representative.

The EBRD has been a shareholder in Banca Transilvania, Romania’s largest bank by total assets, since 2001 while last year it also bought a 19 percent stake in Piraeus Bank Romania from Greek parent Piraeus Group.

Central bank governor, Mugur Isărescu, has quoted the EBRD complaint on Monday, while slamming the Government’s plans for the second time in a week.

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