The European Union and International Monetary Fund agreed the basis for a €20 billion rescue loan for Romania on Wednesday (25 March) as the government struggles with falling tax receipts and rising unemployment payments.
The move brings to three the number of EU countries that have turned to IMF and EU aid as a result of the economic crisis, with Latvia and Hungary already securing financial support.
Under this latest deal, the IMF will contribute €13 billion to the loan while ...
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