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Romanian Deputies Reject Draft Law On $830,000 Loan Refund To USA

Romania’s Chamber of Deputies Tuesday rejected the draft law on refunding a loan of $830,000 the US government granted to the Romanian government, led by Theodor Stolojan during October 1991 - November 1992, to buy cotton fiber.
Romanian Deputies Reject Draft Law On $830,000 Loan Refund To USA
18 mart. 2008, 17:08, English

The MPs of the National Liberal Party (PNL), the far-right Greater Romania Party (PRM) and the leftist opposition Social- Democratic Party (PSD) used this opportunity to launch attacks against democrat-liberal leader Stolojan.

The draft law stipulates refunding the installments set for the 2006 – 2007 period, as part of the commercial loan the US government granted to Romania in 1992.

The $10 million loan was granted for a 30-year period to purchase cotton fiber from the USA and five economic operators, namely SC Romanoexport, SC Tricorom, SC Textilcotton, SC Impex Overseas Corp SRL and SC Tuvic impex SRL, were designated at the time to handle the import operations,. These companies supposedly paid the interests for the loans contracted until 1998.

Liberal Bogdan Olteanu, speaker of the Chamber of Deputies, said, after the final voting, that the liberals voted in favor of this draft law, as they do not want foreign partners to mock Romania and stressed the government run by Stolojan at the time was incompetent.

Olteanu added Romanians have to know that the Democratic-Liberal Party (PDL) actually wants to nominate its “incompetent” leader, Theodor Stolojan, as the country’s prime minister.

The Chamber of Deputies is decisional forum on this draft law.