Romanian c-banks resources can offset capital outflows governor Isarescu.

By bne IntelliNews August 3, 2012
Romanias central bank still has enough resources to handle the recent capital outflow, governor Isarescu was quoted as saying by daily Ziarul Financiar. He was speaking at the end of the monetary boards meeting on Aug. 2, stressing however that the resources left have to be carefully used. Foreign investors sold government bonds and bills worth several billions of RONs, while foreign financial groups avoid extending new credit lines to their local subsidiaries, Isarescu said. Nonetheless, the country most likely will not have to draw money under its precautionary stand-by agreement with the IMF. The local currency weakened some 5% against the euro in the past three months amid both external woes and domestic political turbulences.

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