Complaint filed to DNA and Court of Auditors for the EUR 20bn IMF loan

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More than 250 members of the Group of Customers with loans in Swiss Francs (GCCC) have decided to notify the relevant authorities, the Court of Auditors and the National Anticorruption Directorate (DNA), on the way the EUR 20 billion loan was agreed upon in 2009, and later managed – the loan from the IMF, European Commission, World Bank and European Bank for Reconstruction and Development (EBRD), evz.ro informs.

“According to several documented opinions from the Romanian economic and financial environment, the necessary loan allegedly should have been of about EUR 5 billion. Under these conditions, Romania has requested and obtained an amount four times higher. Furthermore, the destination and the administration of this money is not very transparent and raise many questions,” the release reads.

“We believe that this loan, if it was oversized, as revealed by the information published lately,  has damaged the Romanian state and its citizens, requires emergency checks on the need for such an amount and on the management and on the subsequent financial flows,” argue those who belong to the group of debtors in CHF.

The press release quotes ‘information released in public space’, according to which additional expenses as interest, generated by accessing this loan – 4 times higher than the amount needed – would be of around EUR 2 billion.

“During this time the Romanians faced salary cuts, the bankruptcy of hundreds of thousands of businesses, job losses, Romania’s incapability to overcome the crisis – things that have happened in the context of restrictions and limitations imposed by the IMF and by the national authorities. These measures have led to the ruin of a large number of Romanian citizens, among them being the debtors in Swiss francs, many of them state employees,” the release further reads.

The debtors representatives write that, according to information published in the public space, concomitantly with the ruin of Romanian citizens, banks have benefited from this loan, whose lobbying helped in accessing the loan.

 

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