Romanian Premier Sees Upgraded IMF Accord by Fall
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Romania will reach an “upgraded” agreement with the International Monetary Fund and the European Union by the fall, which will help lower financing costs and support the currency, Prime Minister Victor Ponta said.
The country will obtain a precautionary loan of 3 billion euros ($3.94 billion) to 5 billion euros, with fewer conditions than in its previous two accords, Ponta said in an interview yesterday in Bucharest. The terms will concentrate on strengthening state-owned companies and maintaining fiscal discipline, he said.