IMF to loan Romania $17.5 billion

The International Monetary Fund (IMF) has agreed a $17.5 billion loan to Romania to cushion the rapid withdrawal of capital from the eastern European economy.

In addition to the IMF loan, Romania could receive up to $9.5 billion from other multilateral agencies.

Dominique Strauss-Kahn, the managing director of the International Monetary Fund, said on Wednesday that the objective of the policy package was to "cushion the effects of the sharp drop in private capital inflows while implementing p