Companies had fewer cash flow problems at the beginning of theyear, with instances when debt instruments bounced - i.e. whenbanks did not find enough money in the accounts of holders to coverpromissory notes, cheques, and bills of exchange - falling by 27%against the monthly average in 2009, to 570 million RON (around 140million euros), according to data from the NBR (National Bank ofRomania).
Analysts say companies are starting to have easier access tobank funding, and that the economy is showing signs of a rebound.This will gradually help unfreeze the market of bank payments,which saw a rapid deterioration last year. For instance, in October2009, payment instruments worth over one billion RON bounced.
The amounts on bounced instruments were lower only back inOctober 2008, when the financial crisis first hit the Romanianmarket. At the time banks could not cover sums amounting to 496million RON owed by account holders. Afterwards the number ofpayments declined rose steadily amid a drop in companies'turnovers. Around 96% of payment refusals are generated bycompanies.
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