Wednesday, April 29, 2009

Romania cbank '09 lending may rise by 10 pct-report

BUCHAREST, April 28 (Reuters) - Lending in Romania may rise by up to 10 percent this year, boosted by money from an IMF-led aid package, a central bank official was quoted as saying on Tuesday.
 
"There will be a relaxation of lending after IMF money (starts to) arrive in May," the central bank's chief economist Valentin Lazea told daily Business Standard. "It will be good if lending will rise by 10 percent this year."

Last month, Romania secured 20 billion euros in aid from the International Monetary Fund, the European Union and other financial institutions in a bid to meet its financing needs, strained by global financial turmoil.

Latest data show lending fell by 2.1 percent in March but was up more than 23 percent on the year, largely due to fast economic growth throughout much of 2008.

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