Romania will seek a precautionary aid deal with the International Monetary Fund once its current 20 billion euros standby agreement ends in May of next year, President Traian Basescu said on Thursday.
"The deal with the Fund will be of the precautionary type, meaning we will use the loan money only if we need it," Basescu told Romanian state radio. He did not give details on the potential size or duration of any deal.
A precautionary deal would mean Romania could tap funds only when needed, instead of the regular aid disbursesments it receives under the current IMF agreement, provided it meets specific targets.
News feed: balkans.com link: article
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