Romanian PM wants new cautionary IMF agreement for 2013

Romania should continue its agreement with the International Monetary Fund (IMF) next year and keep the cautionary loan deal with the IMF, said Romania's Prime Minister Victor Ponta.

Romania has an ongoing cautionary agreement with the IMF for EUR 3.6 billion, together with a similar deal with the European Commission for EUR 1.4 billion and a credit line of EUR 400 million from the World Bank. These were contracted as safety nets for the country, with the intention to not spend the money. The agreement with these financial institutions was closed in March 2011 and followed a EUR 20 billion stand-by loan between 2009 and 2011. editor@romania-insider.com (photo source: Sxc.hu)