Financial Times: Romania in line to receive 20 BN Euros IMF package

Financial Times informs in its online edition on Tuesday that Romania may receive a loan worth some 20 billion Euros from the International Monetary Fund (IMF), Negotiations between Romanian authorities and IMF officials will continue on Wednesday, the newspaper informs. „The package will run for a longer period than the 17-month facility made available to Hungary”, FT adds, quoting an IMF official.

„The deal will give Romania time to implement the policies . . . without looking over their shoulder to see if a crisis is coming. The Romanian government has given no indication of the likely size of the rescue package. Romania’s move makes it the fourth east European country after Hungary, Ukraine and Latvia, to turn to international institutions for support since the onset of the financial crisis”, FT informs.