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Romania’s Public Debt Rises To RON155B In February

Romania’s public debt rose by 11 billion lei (EUR1=RON4.1380) in February, to RON155 billion, fueled by disbursements from the International Monetary Fund.
Romania’s Public Debt Rises To RON155B In February
29 apr. 2010, 17:52, English

In January, Romania’s public debt stood at RON143.95 billion, slightly down on the month.

According to Finance Ministry data released Thursday, the public debt stood for 28.77% of the gross domestic product in February, up from 26.71% of the GDP a month earlier.

The public debt-to-GDP ratio was calculated based on a GDP of RON538.9 billion estimated for 2010.

The public debt in Romanian lei was at 47.1% of the total debt in February, while euro-denominated debt stood at 38.3%.

State loans amounted to 39.8% of Romania’s public debt at the end of February, followed by treasury bills (18.1% of the total debt) and treasury bonds (17.2%), according to ministry data.

Eurobonds represented 6.11% of the total loans, while financing from other sources amounted to 18.8%.

Late February, the IMF disbursed about EUR2.45 billion of the EUR13 billion stand-by loan agreed with Romania last year.

Half of the amount was channeled directly to the government to cover the budget deficit.