Romania Needs Steady Reserves To Attract Loans - Ctrl Bker

Romania needs steady international reserves to attract new loans, central bank governor Mugur Isarescu said Thursday, adding that local and foreign borrowings are estimated at EUR8 billion-EUR9 billion in 2010.

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"We've struggled with low reserves during the 90s and Romania wasn't able to borrow money. It's not very complicated; the international reserve represents a credibility factor," Isarescu told an economic seminar.

"You need money to make money," he added.

Isarescu said the country's forex reserves registered a boom after 2000.

"However, the reserves cannot grow forever, because there is an optimum level they must reach," he said.

Romania's foreign exchange reserves fell EUR362 million on the month to EUR31.627 billion in June, central bank data showed.

In 2009, forex reserves stood at EUR28.3 billion, up from some EUR26 billion a year earlier.

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