Hungary's got company...Romania needs a bailout!
source: http://www.businessweek.com/globalbiz/content/mar2009/gb20090310_197485.htm?campaign_id=rss_...
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- sarahlane
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Romania could receive about €20 billion as part of an International Monetary Fund-European Union rescue package, with negotiations due to start this week.
The funds, aimed at cushioning the impact of the economic crisis in EU's second poorest member state, was likely to be similar in size to the €20 billion Hungary signed up for in November, said an official familiar with the issue, according to the Financial Times.
The Romanian government and the International Monetary Fund (IMF) had reached agreement on the "broad quantitative parameters" of a support package during last week's visit of a Romanian government delegation to Washington, the official said.
The IMF confirmed that one of its teams was heading to Bucharest on Wednesday. EU and World Bank experts were also likely to follow, in order to finalise the details of the rescue package.
The funds, aimed at cushioning the impact of the economic crisis in EU's second poorest member state, was likely to be similar in size to the €20 billion Hungary signed up for in November, said an official familiar with the issue, according to the Financial Times.
The Romanian government and the International Monetary Fund (IMF) had reached agreement on the "broad quantitative parameters" of a support package during last week's visit of a Romanian government delegation to Washington, the official said.
The IMF confirmed that one of its teams was heading to Bucharest on Wednesday. EU and World Bank experts were also likely to follow, in order to finalise the details of the rescue package.
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asoltero
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One step closer to globalization...
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