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. |
Romania's government has earmarked RON 163mn (EUR 37mn) worth of subsidies for 2013 under a programme aimed at closing down the loss-making mines of local company CNH located in the southwestern ... more
Romanian state-controlled hydropower company Hidroelectrica sold on Thursday, March 21, in several separate contracts a total of 0.3TWh of baseload electricity deliverable between April 1 and the ... more
The Romanian government will publish the privatisation call for freight railway company CFR Marfa immediately after the consultants complete their work, probably on April 6-8, Romanian transport ... more