Gandul
Speaking at a parliamentary meeting, Basescu said the country is unable to obtain long-term financing due to its structural deficits.
„No one is lending Romania on long-term, because of the structural deficits,” Basescu said.
Romania also faces „huge difficulties in getting three-year loans,” he added.
In 2009, Romania and the IMF signed a EUR13 billion two-year standby agreement, part of a larger aid package which includes funds from the EU, the World Bank and other foreign lenders.
Under the agreement, the country pledged to reduce its budget deficit to 4.4% of the gross domestic product in 2011, from a gap of 7.4% of GDP in 2009.