Mediafax: Romania contemplates EUR 6 billion follow-up IMF loan

Romanian authorities consider signing a precautionary agreement with the International Monetary Fund worth between EUR 5 billion and EUR 6 billion, but the exact amount will not be set until March next year, people familiar with the matter said Monday, quoted by Mediafax. The agreement will become active once Romania's current EUR 13 billion deal with the IMF ends in April 2011. The follow-up loan could reach up to EUR 8 billion, depending on the country's borrowing needs for 2011. Last year, Romania and the IMF signed a EUR 13 billion loan agreement, part of a larger EUR 20 billion package that includes funds from the EU, the World Bank and other lenders. The terms of the follow-up loan agreement will be discussed at the fund's next review mission to Bucharest in 2011, according to IMF officials. Mediafax