Romania Finance Ministry’s Liquidity Buffer Tops EUR3B - Sources
Romanian Finance Ministry has a liquidity buffer of over EUR3 billion which can be accessed if the country’s borrowing costs climb too much, people familiar with the matter said Thursday.
They said the buffer fund makes it unlikely for Romania to draw money from a EUR3.5 billion precautionary agreement with the International Monetary Fund.
Central bank officials said recently that Romania’s financial reserves would only last for another four months if the country doesn’t attract money from the market.
In theory, the authorities could access the IMF money, said Lucian Croitoru, adviser to the central bank governor.
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