Romania to sign new financing deals with both IMF and EU, says FinMin

Romania will sign new, precautionary financing agreements with both the International Monetary Fund and the European Commission, Finance Minister Gheorghe Ialomitianu (in picture) told a news conference Monday. Asked by journalists what type of deal would Romania and the European Commission sign, the minister said several times the next agreement will be a precautionary one, similarly to the loan that will be agreed with the IMF. "If Romania cannot cover its deficit, it will draw these funds from the Commission, but this is not the case," Ialomitianu said. In 2009, Romania secured a EUR 20 billion financial package, backed by funds from the IMF and the EU. The Romanian authorities plan to enter new agreements with the international lenders once the current arrangement expires in May. So far, Romanian media reported about a possible EUR 3.6 million loan from the IMF, quoting sources close to discussions. Mediafax