Isarescu: Most of the short-term debt is due to banks raising market share

Banks have over €10 billion in Romanian private sector short-term debt, with ten large banks having some 90 percent of this value, according to BNR.

The Governor said yesterday that there is no shortage of liquidity on the Romanian market, adding that the liquidity excess narrowed in the second half of 2008. Isarescu said that the effects of the global crisis will be felt on the Romanian market as well. “Crisis phenomena are serious. Based on my information, all economic growth forecasts in the world will be revised downward, and Romania cannot remain immune to what is going on, though it has its own characteristics,” Isarescu added.