Romania will have a precautionary agreement also with the EU

Newsroom 10/01/2011 | 16:29

The next agreement Romania will sign with international financial institutions will be precautionary, and it will be signed both with the International Monetary Fund and the European Commission, according to the Minister of Public Finances, Gheorghe Ialomitianu.

“If Romania is not able to cover its deficit, of course it will resort to these funds from the Commission, but it’s not the case,” said Ialomitianu.

The IMF board recently approved the seventh part of the loan of approximately EUR 900 million.

Romania now has a financing agreement with the IMF, EU and other international financial institutions for a total sum of approximately EUR 20 billion, of which so far it has received EUR 15.2 billion.

A new IMF delegation will come to Bucharest on January 25 to set the parameters of a new precautionary agreement. Within this new agreement, the IMF will place at Romania’s disposal a sum of EUR 3.6 billion, which will be used only in case of emergency, according to Mediafax newswire.
Otilia Haraga

 

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