Romania To Secure Precautionary IMF Loan |
|
February 7, 2011
Romania is set to obtain a new €5bn precautionary loan deal from the International Monetary Fund and European Union, its president has confirmed.
Romania is set to obtain a new €5bn precautionary loan deal from the International Monetary Fund and European Union, its president has confirmed.
Traian Basescu said in speech on Sunday that funds would serve as a backstop and would only be drawn if strictly necessary. The safety net will remain in place for two years.
The package is likely to reassure investors given the still lingering risk of a spillover from Europe's sovereign debt crisis and the impetus the IMF may give to further structural reforms in Romania.
Related Links
