Moody's: Romania needs 29 billion Euros as foreign financing in 2009

Romania will need this year some 29 billion Euros as foreign financing, representing 21.8% of its GDP, a report put up by the Moody’s evaluation agency indicates.

According to the report, called „Emerging European Sovereigns: The case for Risk Differentiation”, Romania ranks second in the need for foreign financing, after Poland. Moody’s experts consider that Poland needs some 60.8 billion Euros this year, representing 18.7% of the GDP.

The two are followed by Bulgaria (14.8 billions), Latvia (13.4 billions), the Czech Republic (12.1 billions), Hungary (11.3 billions), Ukraine (10.5 billions), Lithuania (9.1 billions), Croatia (8.2 billions) and Estonia (4.7 billions).

Click here to read the full report.