Romania's overall debt will reach a peak of around 82% of GDPthis year, a major increase against the 51% recorded at the end of2008, but resumption of economic growth will allow for the debt toreturn to manageable levels in the medium run, according to thelatest IMF report on Romania's economic situation.
As early as in October 2010, Romania's foreign debt neared 90billion euros, having risen by 11.5 billion euros over the courseof just one year.
Although 2013 and 2014 will be two major spikes as far as theamounts due for repayment to the IMF are concerned, accounting for11.7% and 12% respectively of the forex reserves, the Fund is notworried about the loan repayment.
"Although exposure remains high, risks related to the debt serviceare lessened by the relatively low level of the public debt (lessthan 37% of GDP), while the foreign public debt is set to reach ahigh of 16% of GDP in 2011," write the Fund's experts in thereport. The IMF also relies on Romania's clean track record ofrepaying past foreign debts.
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