Bloomberg corrects the article according to which Romania might be unable to honour foreign obligations

Renowned economic news portal Bloomberg corrected an article according to which Romania might be unable to honour its international obligations. A Royal Bank of Scotland (RBS) report shows that including Hungary, Latvia, Romania and Ukraine on the list of the countries indicating risk was the result of the fact that the countries were forced to sign an agreement with the IMF.

Despite this, Romania evades the risk category for 2009 due to the fact that the current account deficit and, therefore, the need for external finance are quickly adjusted because of low inner demand.

The corrections were made after Romanian Central Bank (BNR) governor Mugur Isarescu expressed his surprise towards the news: „Looking at the three other states, I don’t want to be mean but I have to ask myself what my country is doing on the list”, Isarescu said.

„There was news this morning with Bloomberg reading Hungary, Latvia and Romania were leading the 8 countries group that might cease their foreign obligations after getting drunk on cheap credits. Let’s see who says that… These pieces of paper are sometimes reflecting certain interests.

We’re talking about countries with huge external deficits here. We were too quick to correct that. The next wave of negative examples regarding Romania will be about the fact that we corrected that too quickly”, BNR governor Isarescu said.