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 | 934 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
|
Latest news in category Finance-Banks
NBR governor Mugur Isărescu apparently ignores the fact that banks are refusing to negotiate with their customers and insists, after the passing of the law of giving in payment, that the parties of the loan agreement should negotiate: "Negotiation is the basis of the functioning of the market economy, in the European Union, because that is where we are living. Romania was and has been a loyal partner to the European project and we should not forget that". read more...
The European Central Bank (ECB) pursues its mandate and defends its independence, according to statements of the president of the institution, Mario Draghi, who responded yesterday, to some criticisms coming from several German officials concerning the lax monetary policy of the ECB. read more...
The British pound yesterday saw the biggest decline against the dollar since March 2009, after London mayor Boris Johnson, one of the most popular politicians in the country, said he would start a campaign in favor of the United Kingdom leaving the European Union (Brexit) in the referendum scheduled in June. read more...
|
|
