Ad
Mr Basescu says the country risks failing on planned austerity measures without a further IMF agreement (Photo: Romania Libera)

Romania reaches out for new 'precautionary' loan

Romania is about to sign a second, "precautionary" agreement with the EU and the International Monetary Fund worth €5 billion, with a first aid package agreed in 2009 set to run out in May, the country's president said on Sunday (6 February).

"The agreement is necessary because the risks in the region are still high," President Traian Basescu said in a televised address from the Cotroceni palace.

"There's also a political risk in Romania if we consider the elections and that's wh...

Get EU news that matters

Back our independent journalism by becoming a supporting member

Already a member? Login here
Mr Basescu says the country risks failing on planned austerity measures without a further IMF agreement (Photo: Romania Libera)

Tags

Ad
Ad
Ad