treasury

The Romanian Government cleared the country’s Agriculture Ministry to contract a loan of 1.4 billion lei (EUR1=RON4.0958) from the State Treasury, which will allow the ministry to make single area payments for 2009.

Romania has received the first EUR300 million loan of a larger EUR1 billion financial package granted by the World Bank, Treasury head Laurentiu Andrei told MEDIAFAX Wednesday.

The National Bank of Romania, or BNR, has lately sold EUR1 billion to drain excess liquidity after the Treasury exchanged foreign currency into Romanian lei to cover last year’s deficit, central bank governor Mugur Isarescu said Monday.