Law No. 28 Of 20 January 1998

Original Language Title:  LEGE nr. 28 din 20 ianuarie 1998

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Law No. 28 of 20 January 1998 on approval of the Government Ordinance. 13/1997 ratifying loan agreement between Romania and the International Bank for reconstruction and development on the adjustment of the agricultural sector, amounting to 350 million dollars, equivalent to S.U.A. Washington signed on 1 July 1997 PARLIAMENT ISSUING published in MONITORUL OFICIAL nr. 29 of 27 January 1998, the Romanian Parliament adopts this law.


The sole article approving Ordinance No. 13 of 7 august 1997 ratification of the loan agreement between Romania and the International Bank for reconstruction and development on the adjustment of the agricultural sector, amounting to 350 million dollars, equivalent to S.U.A. Washington signed on 1 July 1997, pursuant to art. and (b). the Act No.) 134/97 for empowering the Government to issue decrees and published in the Official Gazette of Romania, part I, no. 190 of 11 august 1997, with the following modifications: 1. the title of the Ordinance shall read as follows: "order of ratification of loan agreement between Romania and the International Bank for reconstruction and development on the adjustment of the agricultural sector, signed in Washington on 1 July 1997" 2. Article 1 shall read as follows: Art. 1.-Loan Agreement Is ratified between Romania and the International Bank for reconstruction and development on the adjustment of the agricultural sector, amounting to 350 million dollars, equivalent to S.U.A. Washington signed on 1 July 1997. "
3. Article 2 shall read as follows: Art. 2.-the Ministry of agriculture and food, the Ministry of industry and trade, Council for the reform of the State property Fund will bear the responsibility for the implementation of measures of economic policy to which Government is committed under the programme which is the subject of this agreement. "
4. Article 3 shall read as follows: Art. 3.-the Romanian Government Is authorised by the Ministry of finance, jointly with the International Bank for reconstruction and development, to introduce, the duration of any of the loan in relation to the concrete conditions of the loan agreement, amendments to the contents thereof relating realocari, changes in structure, changes in loan terms, and any other changes which are not likely to increase its financial obligations or economic conditions provided for in the annex. 3 to the agreement, to the front of the International Bank for reconstruction and development.
The Romanian Government will report periodically to the European Parliament on the amendments introduced under the report on external public debt. "
5. Article 4 shall read as follows: Art. 4.-the amounts in foreign currency, drawn by the Ministry of finance, in accordance with this agreement, shall be surrendered to the foreign exchange reserve of the State and is administered by the National Bank of Romania, as an agent for the implementation of the loan, in a separate account, from which the National Bank of Romania, in the framework of its policy of foreign exchange reserve management of the State and for the purpose of fluidizarii transactions on the Forex market , will use all or parts of the loan above mentioned, in accordance with the destination laid down on the basis of decisions of the Government of Romania. The equivalent in lei of amounts in foreign currency will be drawn from the Treasury for the State wired the financing of the budget deficit, according to the law. "
This law was adopted by the Chamber of deputies at its meeting of 23 December 1997, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. VASILE LUPU, PRESIDENT of the CHAMBER of DEPUTIES, this law was adopted by the Senate at its meeting of 23 December 1997, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. SENATE CRISTIAN DUMITRESCU---------------