borrow

Romanian President Traian Basescu said Tuesday Romania should borrow extra EUR5 billion from the market, apart from the EUR3 billion to be disbursed by the International Monetary Fund and the European Union by the end of the year, in order to keep the deficit in the new cap agreed with the IMF.

Romania could conclude a deal with the International Monetary Fund by the end of April. The deal should be valid through 2010 and the financing package from the European Union and the other international financial institutions should be larger than EUR10 billion, analysts said Monday.