The International Monetary Fund (IMF) has approved a $683 million stand-by payment to Romania, Bloomberg reports. The funds were made available after the Romanian government met the first-quarter budget-deficit target.
The European country is seeking to borrow money to finance its budget deficit and attract investors through sales of energy stakes. The government is aiming to sell minority stakes in OMV Petrom, Romgaz and its utilities Transgaz and Transelectrica this year.
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