Romanian Ctrl Bk Gov: Rebuilding Trust Is Essential
Rebuilding the trust in Romania’s economy is essential at the moment and a good collaboration between economical, political and social factors is needed, the central bank’s governor Mugur Isarescu said Wednesday.
“This arrangement (external finance, e.n.) is not necessary for thus period, but also a good one. The terms of the agreement are what Romania needs at this time,” Isarescu said.
Romania’s central bank governor Mugur Isarescu took part Wednesday at a debate within the Parliament on the country’s current economic and monetary status, following the agreement with the International Monetary Fund.
“On this basis, we will continue Romania’s economic growth and ensure the macroeconomic stability of the country,” Isarescu added.
Romania and IMF agreed last week on an economic program supported by a EUR12.95 billion loan under a two-year stand-by arrangement. The total value of the financial package that includes a EUR5 billion loan from the European Union, and an EUR1 billion loan from the World Bank is of EUR19.95 billion.
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