Lending: The IMF has lent billions to struggling Romania, with others not far behind in the queue
The International Monetary Fund has approved a $17.1billion standby loan for Romania to cushion the effects of the world financial crisis.
A total of $6.6billion is available immediately, and the rest in installments, subject to quarterly review.
Eastern European countries were hard hit by the credit crunch after Lehman Brothers collapsed.
A total of $6.6billion is available immediately, and the rest in installments, subject to quarterly review.
Eastern European countries were hard hit by the credit crunch after Lehman Brothers collapsed.
Even countries that had no direct exposure to souring U.S. assets suffered when financing dried up.
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