Romania Contemplates EUR6B Follow-Up Agreement With IMF – Sources

The agreement will become active once Romania’s current EUR13 billion deal with the IMF ends in April 2011, the mentioned sources told MEDIAFAX.

They said the follow-up loan could reach up to EUR8 billion, depending on the country’s borrowing needs for 2011.

Last year, Romania and the IMF signed a EUR13 billion loan agreement, part of a larger EUR20 billion package that includes funds from the EU, the World Bank and other lenders.

The terms of the follow-up loan agreement will be discussed at the fund’s next review mission to Bucharest in 2011, according to IMF officials.