Romania's overall debt will reach a peak of around 82% of GDP this year, a major increase against the 51% recorded at the end of 2008, but resumption of economic growth will allow for the debt to return to manageable levels in the medium run, according to the latest IMF report on Romania's economic situation.

As early as in October 2010, Romania's foreign debt neared 90 billion euros, having risen by 11.5 billion euros over the course of just one year.

Although 2013 and 2014 will be two major spikes as far as the amounts due for repayment to the IMF are concerned, accounting for 11.7% and 12% respectively of the forex reserves, the Fund is not worried about the loan repayment.

"Although exposure remains high, risks related to the debt service are lessened by the relatively low level of the public debt (less than 37% of GDP), while the foreign public debt is set to reach a high of 16% of GDP in 2011," write the Fund's experts in the report. The IMF also relies on Romania's clean track record of repaying past foreign debts.

Source: Ziarul Financiar