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Romania Needs External Loan As „Safety Belt” – President

Romania needs a foreign loan as a “safety belt” for the private sector and the current account deficit, not to finance its public debt and budget deficit, Romanian President Traian Basescu said Monday in the Parliament.
Romania Needs External Loan As
09 mart. 2009, 17:38, English

He added Romania might access EU funds, but only if it inks a partnership with the International Monetary Fund.
 
Speaking in front of the reunited Parliament Chambers, Basescu said the country “has no problems in financing the budget deficit and the public external debt.”
“As regards the private sector, we have a problem on financing the current account deficit,” he said, adding the private sector’s external debt due in 2009 stands at EUR24 billion.
 
The authorities have to find ways to intervene if the private companies cannot pay their foreign debts.
 
“Romania needs a safety belt, an external loan,” Basescu also said.
 
He said the European Union put at new member states’ disposal about EUR30 billion in 2009 and 2010. Romania can access EU money, but EU imposes the loan to be taken in partnership with the IMF, Basescu said.