Romanian President: Experts Say Romania Has Greatly Improved Its Credibility

The president said that, during the discussion with international delegation, someone mentioned that in early 2009, Romania’s credit default swaps were around 750-780 bps, but have now dropped to around 250.

„This means Romania can finance itself much more cheaply. In 2009, we could not finance, because of the very high costs, as a consequence of the excesses of 2008,” said Basescu.

„The experts I met today say Romania is in a much better situation than many EU and Eurozone member states,” he concluded.

Basescu met Sunday afternoon with the joint delegation of the International Monetary Fund, European Commission and World Bank. The delegation is in Romania until August 1 to assess the country’s half-year results under a precautionary stand-by loan agreement. It will present its conclusions in a press conference on Monday.