Coface country rating might drop from A4 to A4 minus

Newsroom 08/10/2007 | 15:51

“Although we were optimistic at the beginning of the year, here we are in October considering what we are going to do about the rating. Our colleagues in Paris are evaluating the situation and we must say that there are concerns [about Romania],” said Ionescu.
He added that the major risks come from Romania's widening current account deficit, which is twice the size of Turkey's, the national currency's depreciation and the reform slowdown. European Union funds might help diminish the current account deficit, but the political instability casts doubt on the authorities' ability to spend them properly, he said. “The political quarrel going on for the past two years does not help improve economic prospects at all,” said Ionescu.
Ana-Maria David

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