Romania Drafts Loan Restructuring Guides

Romanian Finance Ministry, together with the central bank and several other banking institutions, drafted two guides for settling loan payment issues outside legal courts.

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Under a EUR1 billion loan agreement with the World Bank, Romania has pledged to draw up two guides for extrajudicial restructuring of loans, for both household and corporate clients.

The two guides stipulate a series of negotiation principles between financially troubled companies or individuals and their creditors that may lead to loan restructuring without having to resort to legal action.

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