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RADOR: News from Romania, 97-11-07
November 7, 1997
CONTENTS
[01] Romanian President Constantinescu on a Visit to France
[02] Important Laws To Be Adopted
[03] Exemption from Customs Duties
[04] The Leu Rate Could Remain Unchanged
[05] Weather in Romania
[06] Currency Rates
[01] Romanian president Constantinescu on a visit to France
Romanian President Emil Constantinescu started on Thursday a two-day visit
to Paris. He took the floor at the international seminar "Globalisation and
National Identity" organised by the International Christian-Democrat Union
in cooperation with the Democratic Force - a French central wing party.
Also on Thursday, the Romanian president was due to have talks with his
French counterpart Jacques Chirac, Prime Minister Lionel Jospin and the
speaker of the French National Assembly Laurent Fabius. On Friday, L'Ecole
Normale Superieure will award Mr. Constantinescu the Doctor Honoris Causa
title. He is then to receive a special medal of the French academics. RRI-
RADOR, November 7
[02] Important laws to be adopted
Romanian Prime Minister Victor Ciorbea has announced that the privatisation
draft law and the law on foreign investment should be debated in Parliament
under emergency procedures. Ciorbea made the statement right after the
meeting of the ruling coalition's coordination council. The projects might
become operational by January 1, 1998. RRI-RADOR, November 7
[03] Exemption from customs duties
The government approved yesterday the draft law concerning the exemption
from customs duties of the social, humanitarian, cultural, sporting,
didactic aid and donations send by non-profit organisations, ministries or
local public administration bodies, unions, parties. Alcohol, tobacco,
coffee and cars are excepted. The government has also approved an amendment
to the Law no. 12 on protection against illegal trade act, so that
inspectors of the Consumer Protection Office would be able to sanction
abuses. RADOR, November 7
[04] The leu rate could remain unchanged
In spite of a risky decision of the National Bank of Romania (BNR), there
are chances for the national currency to maintain its course compared with
the dollar. The National Bank intends to repeal restrictions regarding the
purchase of dollars by private persons and importers. So the interdiction
for impoters to buy dollars before spending their foreign currency reserves
and for private persons to buy up to 500 dollars a year will be eliminated.
These measures are taken so that Romania adopts the 8th article of the IMF
Charter establishing the rules of the internal convertibility. The interest
rates at the commercial banks is high enough so that the private persons or
the importers should be determined to deposit lei instead of dollars.
Specialists believe the dollar will be bought for no less than 7,800 lei by
the end of the year. Importers will have to use the dollars bought for
imports, having the right to deposit only the currency resulting from
profits. Imports are expected to decrease for the next period, although in
winter they usually register a increase. RADOR, November 7
[05] Weather in Romania
Weather in Romania is getting even warmer and suny. Temperatures will range
from 1 centigrade in the morning to 20 centigrades at noon. RADOR,
November 7
[06] Currency rates
1 USD = 7,778 lei; 1 DEM = 4,515 lei; 1 CHF = 5,524 lei; 1 FRF = 1,348 lei;
1 GBP = 13,034 lei; 1 XEU = 8,916 lei. RADOR, November 7
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