IMF, EU Lend €5B To Romania

The European Union and the International Monetary Fund will give Romania a new loan of €5 billion, Bloomberg reports. The two-year, precautionary-type agreement will provide a safety net during Europe’s sovereign-debt crisis.

The IMF will set aside €3.6 billion for Romania under the new transaction, while the EU may provide €1.4 billion in case of crisis. Romania has a €20 billion bailout contract led by the IMF, which ends in May, adds Reuters.

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