IMF Reaches Staff-Level Accord With Moldova for $179M Loan

July 27, 2016

The International Monetary Fund reached an agreement Tuesday with Moldova for a $179 million, 3-year loan arrangement conditional on the government carrying out reforms. The IMF said its staff members have reached a “staff-level agreement on an economic reform program” with Moldovan authorities to be supported by the credit facility. Moldovan Prime Minister Pavel Filip […]

Government launches tax payment guide for Romanians abroad

July 27, 2016

The Ministry of Public Finance and the Department of Romanians from Everywhere have launched an interactive online guide that supports the Romanian citizens outside the country and offers information regarding the payment and taxes declaration. The document has as starting point the most frequent questions regarding the fiscal liabilities that Romanian citizens have to pay […]

Macedonia Special Prosecution Probes Skopje Revamp

July 26, 2016

The Mayor of the Skopje Municipality of Centar, Andrej Zernovski, a known opponent of the government revamp of the city, is to testify on Tuesday before the Special Prosecution – which is investigating possible crimes related to the makeover. Macedonia’s special prosecution, SJO, has confirmed that it has summoned Centar Mayor Andrej Zernovski while probing […]

LuxLeaks highlights need for whistleblower protection and incentives

July 26, 2016

The time has come for EU member states to decide how they will treat whistleblowers. Erika Kelton asks, will they embrace and encourage them, or will they perpetuate a culture of fear? Erika Kelton is a lawyer who has represented whistleblowers in several landmark cases, including the leading whistleblowers in GlaxoSmithKline’s $3 billion settlement with […]

Romania: Controversial investor, former union leader sentenced to jail for embezzlement

July 25, 2016

Sorin Ovidiu Vantu, one of the most controversial Romanian investors, and Liviu Luca, the former OMV Petrom union leader, were sentenced to six years in jail for embezzlement and money laundering. The two were found guilty of fraudulent misuse of some EUR 83.5 million that belonged to Petromservice, a company that used to provide services […]

Albanian parliament passes judiciary reform key to EU accession

July 22, 2016

Albania’s governing and opposition parties passed a judicial reform package on Thursday (21 July), meeting a condition of the European Union for accession talks with the ex-Communist Balkan state. The constitutional package revamping the judiciary received unanimous approval in the 140-member chamber, seen as crucial to giving the reform a solid foundation. A consensus on […]

European Commission Takes Steps on Transparency and Taxation

July 21, 2016

The European Commission has announced next steps in its campaign to boost tax transparency in order to fight tax evasion and avoidance in the EU, taking into account the problems highlighted in the recent media leaks known as the Panama Papers. The commission adopted a proposal to further reinforce EU rules on anti-money laundering to […]

Romania’s former tax agency head to stand trial for abuse of power

July 21, 2016

Romania’s National Anticorruption Directorate (DNA) has indicted Gelu Stefan Diaconu, the former head of the tax agency ANAF, and his former deputy Mihai Gogancea Vatasoiu for alleged abuse of power.     DNA has also indicted nine other people, including MPs Nicolae Paun and Madalin Voicu, who are under judicial control, for alleged crimes related […]

Montenegro: National Commission for implementation of Strategy for Prevention and Suppression of Terrorism, Money Laundering and Terrorist Financing holds session

July 21, 2016

The National Commission for the implementation of the Strategy for Prevention and Suppression of Terrorism, Money Laundering and Terrorist Financing 2015-2018, and the Action Plan 2015-2016, held regular session on 20 July 2016 which was attended by Commission’s members from the Ministry of Justice, Ministry of the Interior and Police Directorate, Ministry of Defence and […]

Macedonia issues seven-year eurobond worth 450 million euros

July 20, 2016

Macedonia issued a seven-year eurobond worth 450 million euros at a yield of 5.625 percent to finance budget needs this year and next, the finance ministry said late on Tuesday, shrugging off protests by the opposition. The joint lead managers on the issue were Citigroup, Deutsche Bank, Erste Group and Societe Generale. In a statement, […]