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Romanian Govt, Ruling Coalition OK IMF Agreement –Premier

All the member of the Romanian Government and of the ruling coalition accepted the agreement concluded with International Monetary Fund IMF, without anybody opposing it, Premier Emil Boc said Tuesday in a TV show.
Manuela Panescu
01 apr. 2009, 10:41, Economic

Hence, the „subtle agreement” between the Liberal Democrats and the Social Democrats was not well adjusted, Boc also said.

Also, Boc stressed out the lending conditions for the population will be tougher and the so-called ‘ID-based loans’ are history.

The banks will subsequently grant consumer loans, in a tougher lending terms, the money mainly targeting the support of investments and the setting up of new job opportunities.

Part of the loan taken from the IMF and the European Commission EC will be directed to the banking sector, Boc added.

The IMF agreement is meant to help the population pay the bank loans.

Last week, Romania agreed with the International Monetary Fund, the European Commission and other financial institutions a EUR19.95 billion economic program, of which EUR12.95 billion in a two-year stand-by arrangement from the IMF.