Romania

Romania not ruling out recession

Bucharest. Romania could slip into recession this year, when the economy could show a contraction of 1.0 percent to growth of 1.5 percent, Finance Minister Gheorghe Pogea said on Thursday. Romania is currently in talks with the International Monetary Fund and the European Union over a possible financial bailout.

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Romania Opens Emergency Refugee Centre

Officials from the UN’s High Commission for Refugees, UNHCR, and Romania on Thursday officially opened an emergency transit refugee centre in Timisoara, western Romania, to house refugees facing acute danger and in need of immediate evacuation. The centre, the first of its kind in the world, has been set up …

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Charges against ex Romanian president dropped

BUCHAREST, Romania: Prosecutors say they have dropped criminal charges against former President Ion Iliescu for allegedly inciting miners to riot in clashes that left six people dead. The general prosecutor’s office made the announcement Wednesday. The charges related to violence in June 1990, when Iliescu was president.

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Weak Leu Drives Romania’s Inflation Higher

Romania’s annual inflation rate rose slightly to 6.9 per cent in February from 6.7 per cent in January, primarily due to the weakening of the national currency, the leu. The National Statistics Institute, INS, also said on Wednesday that the rise in inflation in February was due to an increase …

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Romania Seeks $25 Billion Bailout

Faced with stalled growth and a weakened currency, Bucharest became the latest government to ask the IMF and EU for an emergency rescue package Romania could receive about €20 billion as part of an International Monetary Fund-European Union rescue package, with negotiations due to start this week.

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