News » February, 2011 » 7 February 2011
Romania Ctrl Bk Not To Access New IMF Cash Unless Reserves Depleted
07.02.2011, 15:58 | Finance-Banks | 829 views
Romania will not draw any funds from its new loan agreement with the International Monetary Fund and the EU unless the region faces a major crisis and the central bank has to dig into its reserves to protect the leu from speculative attacks, central bank governor Mugur Isarescu said Monday. "The IMF money will be drawn only if there's a major situation, such as an attack on the national currency triggered by a regional crisis, which could lead to a massive loss of cash reserves and trust," Isarescu told a news conference. Read more on Mediafax.ro
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