Tags: EU | Romania | Moldova

Romania's President Stops Planned $161M Loan to Moldova

Monday, 09 November 2015 09:46 AM

BUCHAREST, Romania (AP) — Romania's president has refused to sign off on a 150-million euro ($161-million) loan to Moldova that was approved by Parliament last month.

President Klaus Iohannis on Monday sent back the bill for the five-year loan to Parliament, saying the financial aid was not "opportune" without a guarantee that Moldova would continue pro-European reforms.

The loan agreement was signed in Moldova on Oct. 7, initiated by Victor Ponta, who resigned as Romania's prime minster last week after mass protests over a nightclub fire.

Moldova's Parliament dismissed its government on Oct. 29 after a former prime minister was arrested over bank fraud.

The country has been mired in political instability since up to $1.5 billion went missing from three banks ahead of November 2014 parliamentary elections.

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Romania's president has refused to sign off on a 150-million euro ($161-million) loan to Moldova that was approved by Parliament last month.President Klaus Iohannis on Monday sent back the bill for the five-year loan to Parliament, saying the financial aid was not...
EU,Romania,Moldova
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2015-46-09
Monday, 09 November 2015 09:46 AM
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