Basescu says Romania will seek another IMF loan

22/09/2010

BUCHAREST, Romania -- President Traian Basescu announced plans on Tuesday (September 21st) to request another loan from the IMF in 2011 to cover budget gaps, instead of seeking funds from international financial markets. "Nobody will lend to Romania on a longer term, because of structural weaknesses," he told parliament. Romania received a 20 billion euro loan from the IMF and the EU last year. As part of the package, Bucharest is obliged to shrink its budget deficit from 7.4% of GDP in 2009 to 4.4% in 2011. (DPA, AFP, Hotnews.ro - 21/09/10)

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