Archive » October 2009 » 29 October 2009 The english news from 29 October 2009
Romanian bank loan losses expected to reach €10 bln
One in four loans granted in Romania could generate losses for local banks, according to a conclusion drawn by World Bank experts, following an analysis of the previous banking sector crisis in various countries. The financial institution estimates that the losses of local lenders caused by nonperforming loans could amount to nine percent of Romania's gross…
Romanian Govt Allots RON15 Installment Of Subsidy For Sheep Farmers
Government spokesperson Ioana Muntean said the Cabinet approved the value of the subsidy granted to breeders of sheep, worth RON44 per head. She added that the first installment will be granted starting November 2, 2009. For the subsidy, RON75 million was allotted from the Government's reserve fund and RON25 million from the budget of the Agriculture Ministry…
Mihai Tanasescu: Romania needs fiscal consolidation and social solidarity
The years 2009 and 2010 will be more difficult and intricate to the Romanian Government, and Romania needs fiscal consolidation and strong social solidarity to overcome the ongoing economic crisis, Romania's representative with the International Monetary Fund (IMF) Mihai Tanasescu told the Romanian public radio station on Wednesday…
Danske Bank forecasts RON 4.45/€1 exchange
"Events on the political stage and perspectives regarding the result of negotiations with the International Monetary Fund continue to put pressure on the leu. We, Danske Bank, estimate an exchange rate of RON 4.60/€1 for the coming 12 months and of 4.45 units/€1 in the coming three months,"…