Romanian Govt Adopts Decree Allowing Loan Repayment Delays Until Year-End

Romania's government on Thursday adopted an emergency decree allowing individuals and companies to postpone their loan repayments for up to nine months but no later than the end of the year.

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Finance minister Florin Citu said the suspension of loan repayments may be requested by all debtors whose revenues have been directly or indirectly affected by the Covid-19 pandemic.

He said debtors may request to have loan repayments postponed via email or by phone, with no additional paperwork, throughout the duration of the state of emergency. Romania declared a 30-day state of emergency on March 16.

The minister said loan interest would be rescheduled throughout the duration of the loan to avoid immediate pressure once repayment is resumed.

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