Romania’s new IMF agreement | beyondbrics:
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It’s a precautionary arrangement, but could it spell another step towards economic recovery for beleaguered Romania? This week, the International Monetary Fund reached a deal with the Romanian government on a €4bn standby loan, tied to the condition that Bucharest push ahead with planned reforms to the health system, and with its stalled privatisation programme.
The package should stand for 24 months and is Romania’s third from the IMF since it secured a €20bn agreement in 2009. The country’s economy hit the buffers that year after a period of strong growth. The crisis cruelly exposed economic weaknesses that had been overlooked during the boom years."
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