Romania is to sign a new deal with the IMF in a bid to deal with its economic problems, President Traian Basescu has said. Basescu said at a parliamentary meeting on Tuesday he said the agreement will be signed next March after the current one expires.
He said: "No one is lending to Romania long-term, because of the structural deficits ... [the country] faces huge difficulties in getting three-year loans. "A new deal is necessary as Romania has to finance its budget deficit." Last year, recession-hit Romania signed a €20 billion two-year standby agreement with the IMF as part of a larger aid package which included funds from the EU, the World Bank and other foreign lenders.
News soruce: BalkanInsight.com link: article
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