Bloomberg News

Romania Can Cover State Financing for Four Months, Croitoru Says

December 09, 2011

Dec. 8 (Bloomberg) -- Romania’s Finance Ministry has enough funds to cover state financing for at least four months, said Lucian Croitoru, a monetary-policy adviser to central bank Governor Mugur Isarescu.

The Balkan nation, which has a two-year, 5 billion-euro ($6.6 billion) precautionary accord with the International Monetary Fund and the European Union, has a good standing and its government debt yields remain at normal levels amid the euro area’s debt crisis, Croitoru told reporters today at a seminar in the central Romanian town of Sinaia.

The news service Mediafax quoted unidentified officials earlier today as saying the ministry has a buffer totaling 3 billion euros.

--Editors: Alan Crosby, Douglas Lytle

To contact the reporter on this story: Irina Savu in Bucharest at isavu@bloomberg.net.

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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