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EC approves loan for Romania while IMF delays

Publicat la 21.04.2009, 21:00:00

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EC approves loan for Romania while IMF delays
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Yesterday, the European Commission submitted an official request to the Council of EU Finance Ministers to approve a loan for Romania, and these are due to meet on 5 May to approve that loan. “The European Commission agreed today to propose to the Council that medium-term financial assistance be offered to Romania in the amount of €5 billion,” according to a European Commission press release. “Support offered by the EU will allow Romania to get back on a path of solid and sustainable convergence,” according to a declaration yesterday by Europe’s Commissioner for Economic and Monetary Affairs, Joaquin Almunia.

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