The IMF estimates Romania's financing requirements will reach 38billion euros next year, up by around 700,000 euros against 2010,with around half of them being accounted for by short-term debtsfalling due.
Fund experts warn that a careful management will be needed toensure a "smooth" financing of the budget deficit amid apersistently high interest rate margin reflecting the countryrisk.
As for the public debt, the term-based structure is very important,considering the need to correlate term payment with the availablerevenues.
Analyst Aurelian Dochia says short-term debt has to be a concernfor the Finance Ministry.
"The short-term debt is of concern. It generates significantvulnerability, puts a lot of pressure on the budget. The FinanceMinistry needs to make efforts to restructure and consolidatelonger-term debt. Countries with longer-term debt have an easiertime, are less vulnerable to market moves and to interest raterises."
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