Romania To Take EUR1B Loan From Local Mkt To Restructure Debt – Pres

"The government is taking a EUR1 billion loan from the local market in order to restructure its short and very short-term debt, which is extremely burdensome," the president stated.

Basescu added he was familiar with the terms of the loan and they were advantageous.

Romania’s public debt was of 120.7 billion lei (EUR1=RON4.2325) at the end of May, representing 22.7% of the gross domestic product estimated for this year, of RON531 billion. In the first five months of the year, the public debt rose 10%.