18.07.2013

Romanian officials are discussing in Bucharest with experts from the IMF, the European Commission and the World Bank for a new precautionary loan agreement. PM Victor Ponta said that the new loan would help Romania borrow money cheaper on the foreign market, giving investors a sign that the Romanian economy is stable and has potetial. A key element of discussions is structural reforms, especially around state companies. The last loan contracted abroad ended in July successfully, even though Romania claimed some exceptions for less than stellar performance in some areas.

România Internațional, 18.07.2013, 14:39

Romanian officials are discussing in Bucharest with experts from the IMF, the European Commission and the World Bank for a new precautionary loan agreement. PM Victor Ponta said that the new loan would help Romania borrow money cheaper on the foreign market, giving investors a sign that the Romanian economy is stable and has potetial. A key element of discussions is structural reforms, especially around state companies. The last loan contracted abroad ended in July successfully, even though Romania claimed some exceptions for less than stellar performance in some areas.

Romanian national bank governor Mugur Isarescu said that financial stability is a prerequisite of economic growth, and recession in Romania would have been much worse if the financial and banking crisis would have not been avoided. He said that Romania avoided said crisis by getting international financial help. Isarescu said that he has in the past thought too much of Romania’s capacity to absorb European funds.

Romanian football teams Astra Giurgiu and Petrolul Ploiesti face on Thursday on home turf Omonia Nikosia of Cyprus, and Vikingur Gota of the Feroe Islands, in the second preliminary round of the Europa Leagues. The other team representing Romania in this competition, Pandurii Targu Jiu tied on Tuesday, away from home, with a blank score, against Estonian side Levadia Tallinn. Also on Tuesday, Romania’s champions Steaua Bucharest defeated FK Vardar Skopje of Macedonia 3-0, in the first leg of the second preliminary round of the Champions League. The second leg matches will be held a week away.