Romania set to repay historic USD 6.8 mln debt to the US for 1992 loan
The Romanian government approved a draft law on Thursday, December 18, creating the legal framework for the repayment of a USD 6.8 million debt to the United States executive. The sum will cover a loan contracted in 1992 for 30 years for…
Radu Dumitrescu · Journalist
· Updated · 2 min read
The Romanian government approved a draft law on Thursday, December 18, creating the legal framework for the repayment of a USD 6.8 million debt to the United States executive. The sum will cover a loan contracted in 1992 for 30 years for the import of cotton for the textile industry.
The imports were carried out through operators designated by the Romanian state at that time. Over time, however, some of these companies went bankrupt or were dissolved, and the debts could no longer be recovered. These companies include SC Textilcotton SA, SC Impex Overseas Corp SRL, and SC Tuvic Impex SRL, which fell behind on payments and no longer exist legally.
