Romanian Ctrl Bker: An IMF Loan Would Support Forex Reserves, Foreign Investors’ Trust

"It is a proactive approach. We did not initiate talks with these institutions (IMF, European Commission – e.n.) because we have a have a problem, but to prevent one,” Lazea said.

He added the main financing problem is in the private sector, and a potential loan from the IMF would be granted to fund the external deficit, not to cover the budget deficit.

Lazea also said Romania would access a financial package from several international institutions, including IMF, the World Bank, the European Bank for Reconstruction and Development and the EC, “probably” for a two-year period.

He said a decision has not been yet taken on the utilization of EC’s funds, if they would be used for investment projects or just to cover the current account deficit.